Petrol prices jacked up in Pakistan

ISLAMABAD: The federal government on January 15 announced new petrol and diesel prices in Pakistan, ARY News reported.

As per details, petrol prices has been increased by Rs 3.47 to Rs. 256.13 per liter whereas the High-speed diesel prices jacked up by Rs. 2.61 per liter, with the new price set at Rs. 260.95 per liter.

The Ministry of Finance has issued a notification regarding the new prices, which will come into effect at 12 am tonight.

On December 31, the Federal Government increased in petrol and diesel prices.

According to a notification issued late on December 31, the price of petrol was raised by 56 paisas per litre. The new price of petrol was set at Rs252.66 per litre.

Similarly, the price of high-speed diesel was increased by Rs2.96 per litre. The new price for high-speed diesel was Rs258.34 per litre.

Also read: Government increases petrol, diesel prices

It’s worth mentioning here that the government’s inability to reduce the petroleum levy has resulted in a significant increase in petroleum prices, with prices rising by Rs 12.14 per liter over the past month and a half.

According to sources, the price of high-speed diesel was increased by Rs 12.14 per liter since October 16, while the price of petrol was risen by Rs 5.07 per liter during the same period.

The government could have reduced the levy to prevent the price hike, but the IMF program restrictions prevented it, sources revealed.