Petrol price jacked up by Rs14.85 per litre

ISLAMABAD: Pakistan Muslim League-Nawaz-led coalition government on Thursday has again jacked up petrol price by Rs14.85 per litre, ARY News reported.

After the recent increase, the new petrol price has been fixed at Rs248.74 per litre, the finance ministry announced. The price of high-speed diesel has been increased by Rs13.23 per litre and the new price has been fixed at Rs276.54 per litre.

The notification further stated an increase of Rs18.83 in the price of kerosene, while the rate of light-speed diesel has been jacked up by Rs18.68 per litre.

The new price will come into effect from 12 am on July 1.

On June 15, the government increased the petrol price by Rs24 per litre.

Read more: National Assembly approves Rs 50 petroleum levy in budget

The announcement was made by Finance Minister Miftah Ismail while addressing a press conference in Islamabad, citing government was not in a position to bear more subsidies anymore.

Miftah criticised the previous government’s policies that, according to him, “deteriorated the country’s economy”.

The finance minister said the incumbent government was bearing the brunt of that, adding that currently, Pakistan, on every litre, was bearing a loss of Rs24.3 on petrol, Rs59.16 diesel, Rs39.49 kerosene oil, and Rs39.16 on light diesel oil.