Petrol price increased by Rs17.50 to Rs290.45 per litre
The caretaker government has increased the petrol price by Rs17.50 to Rs290.45 per litre while diesel price has been increased by Rs20 to Rs293.40 per litre.
— Ministry of Finance, Government of Pakistan (@Financegovpk) August 15, 2023
The situation appears to be worsening for the already burdened population, who were already facing challenges in affording expensive petrol. Now, an additional financial strain is looming as they will be obligated to pay even higher prices.
The Finance Division, addressing the recent developments, explained that the escalation of petroleum prices in the international market over the past two weeks has necessitated a revision in consumer prices within Pakistan. This decision has been made in response to the global market dynamics impacting local prices.
This announcement follows a substantial price hike in fuel that was announced by the former Pakistan Democratic Movement (PDM)-led government on August 1.
At that time, a significant increase of Rs19 per litre in the prices of both petrol and diesel was introduced. This move was attributed to the mounting global oil prices.
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