Govt drops petrol bomb, average car’s 35 litres now costs Rs 5,600 per litre
The government has increased the price of petrol by Rs12.03/litre, diesel Rs9.53/litre, kerosene Rs10.08/litre and light diesel oil (LDO) by 9.43/litre. The new rates will be effective from today (February 16) and will be revised at the end of the month.
As per the press release issued by the Government of Pakistan’s Finance Division, the prime minister has considered the recommendation to increase the prices of petroleum products in line with changes in the international oil prices.
The previous price of petrol was Rs147.83 per litre.
According to Reuters, oil prices jumped to a seven-year high on Monday when the United States (US) warned that Russia could soon invade Ukraine.
Russia is one of the world’s largest oil and gas producers, and fears that Russia could invade Ukraine have driven the rally in oil closer to $100 per barrel, a level not seen since 2014.
Last month, PM Imran Khan rejected the summary of increasing prices of petroleum products in the public interest.
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