The caretaker government has declared a significant increase in the prices of petroleum products. This adjustment has led to record-breaking prices for both petrol and high-speed diesel.
The Finance Division issued a notification detailing the revised prices. According to this announcement, the price of petrol has seen an increase of Rs. 17.50 per liter, while high-speed diesel has experienced a hike of Rs. 20 per liter.
This decision comes in response to the global market trends, where petroleum prices have been on the rise over the last two weeks. Consequently, consumer prices in Pakistan have been adjusted to reflect these international changes.
Following this increase, the new price for petrol stands at Rs. 290.45 per liter, while high-speed diesel will now cost Rs. 293.40 per liter.
It’s worth noting that during the last fortnightly review of petroleum prices under the coalition government, there was also a substantial increase. The price of petrol was raised by Rs. 19.95 per liter, and high-speed diesel saw an increase of Rs. 19.90 per liter.
The latest price hike, which was announced on August 1, pushed the price of petrol to Rs. 272.95 per liter and high-speed diesel to Rs. 273.40 per liter. This recent announcement by the caretaker government marks yet another significant leap in fuel prices, reflecting the volatile nature of the global petroleum market.