The Federal Government has increased fuel prices in Pakistan by Rs 13/Liter. In the reason for this hike, the finance division said in a notification that in the last fortnight, the plats Singapore prices registered an increase. Along with the depreciation of the Pakistani Rupee, “it has resulted in an increase of POL products in Pakistan”.
Although! Pakistan’s Oil industry has been facing taught challenges and showing red signs of a major fuel breakdown for the Country.
The Price of MS (Petrol) has increased by 5 Rs per Liter, while the price of High-Speed Diesel has increased by 13 Rs per liter. In Pakistan, the increase in the price of Kerosene Oil has been kept at 2.56 Rs per liter, by reducing the dues on it. Similarly, the price of LSD (light-speed diesel) remains constant by adjusting the Government dues.
The hike in the Prices will be affected from the date March 16, 2023:
Updated Fuel Prices in Pakistan:
- After a 5 Rs per liter increase in the price of Petrol the new price stands at 272 Rupees instead of 267.
- The Updated price of the High-Speed Diesel is now Rupees 292 as compared to the old rate of 280 PKR with an increase of 13 Rs per liter.
- On the other hand, the price of LSD (light Speed Diesel) remains unchanged and still stands at the rate of 184 Rs per liter.
- The Kerosene Oil observes an increase of Rs 2.56 per liter, updating the price to Rupees 190.29 against the last price of 184.68 per liter.
States Minister for Petroleum States:
The State Minister for Petroleum Dr. Musadik Malik warns of another increase in Fuel Prices in Pakistan on March 3, 2023. Before the statement, The Pakistani Rupee dropped by Rs. 18 in a single day, reaching Rupees 285 per USD. In News, The Minister said that the rupee’s dismal performance might lead to a jump in Fuel prices in the coming days.
Musadik Malik states Political instability is the main reason for the sudden increase in the price of the Dollar. It is much more difficult to run the country in such an uncertain time. The Petroleum minister also stated that the Government is in talks with Country Russia to buy cheap petrol and Gas.
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