Government jacks up petroleum prices

ISLAMABAD: The federal government once again jacked up the prices of petroleum products by Rs10 per litre for the first half of September 2022, ARY News reported on Wednesday.

According to a notification issued by the Finance Division, the price of petrol saw an increase of Rs2.07, high-speed diesel by Rs2.99 per litre. The price of kerosene oil increased up to Rs10.92 per litre while light diesel jacked up by Rs9.79.

After the recent hike, petrol will now be priced at Rs235.98, followed by high-speed diesel at Rs247.43, kerosene oil at Rs210.32 and light diesel at Rs201.54.

Govt has revised the petroleum products’ prices. pic.twitter.com/jKvkf8dJl5

— Ministry of Finance (@FinMinistryPak) August 31, 2022

The new prices will come into effect from midnight tonight.

Last time, the federal government increased the petrol price by Rs6.72 per litre for the rest of August 2022.

Govt to increase levy by Rs50 per litre

Earlier, it emerged that Pakistan has assured the International Monetary Fund (IMF) to gradually increase the levy on petroleum products up to Rs50 per litre, ARY News reported, quoting well-placed sources.

In the LOI, Pakistan has assured the international lender to gradually increase the levy on petroleum products to Rs50 per litre.