Petrol prices have reached historic high in Pakistan

Lahore, 16th July: Petrol prices in Pakistan have reached their historic peak after the government announced an increase of Rs 5.40 per liter yesterday.

According to details, the federal government on Thursday approved an increase of Rs 5.40 per liter in the price of petroleum products, hence, taking the new price to Rs 118.9 per liter.

As per sources in the Petroleum Division, the previous highest price of petrol was on August 1, 2019, when it reached Rs 117.83 per liter.

Federal government approves increase in petrol prices

According to reports, after an increase in the prices of crude oil in the international market, the government announced to make a rise of Rs 5.40 per liter in petrol prices. Similarly, high-speed diesel (HSD) has been raised by Rs 2.54 per liter for the next fortnight.

Meanwhile, the prices of kerosene and light-diesel oil (LDO) have also been raised by Rs 1.39 and Rs 1.27 per liter respectively.

Therefore, after the increase, petrol will now be sold at Rs 118.09 per liter, diesel at Rs 116.53, kerosene at Rs 87.14 and LDO at Rs 84.67.

Petrol prices are lowest in Pakistan

It is said that the new prices will be effective from Frida (today).

Meanwhile, Fawad Chaudhry, Minister for Information and Broadcasting said in a tweet that the government had ‘no choice’ but to increase the petrol price because of the rates in the international market.

Federal Minister compared the petrol prices globally and wrote,  “Petrol will be sold at Rs 118 per liter in Pakistan, Rs 146 per liter in Bhutan, Rs 147 in Sri Lanka, Rs 167 in Bangladesh, Rs 172 in Nepal, Rs 189 in China and Rs 220 in India.”

The government has given Eid gift by making petrol more expensive

Finance Ministry issued a statement that the government has been providing maximum relief to the people by reducing the prices of petroleum products since April 2021.

It is to be noted that the Oil and Gas Regulatory Authority had recommended an increase of Rs 11.50 per liter in petrol prices but Prime Minister Imran Khan allowed only Rs 5.4 per liter hike to provide maximum relief to the public.

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Fuel Prices At Historic Highs