Overview
The unstable rates of fuel in the international market affect petrol prices all over the world. This time petrol prices increase by R. 12/per liter. New prices have been applied from 15th February 2022. its been very regular that prices are increased. After every two or three months, petrol prices have been changed. There is no good hope to see a decrease in petrol prices. However, Prime minister Imran Khan has declined the price increased summary but the finance ministry has explained there is no other option left. Prices have increased in the international market. After the cost of import, it has been very expensive to fuel stations. The news of hike n petrol prices surrounds from many days. Maybe it’s been delayed by the government and they had tried to manage prices with previous rates.
New Petrol Prices
According to the Finance, Division issued new petrol prices, petrol price increased from Rs. 147.83 to Rs. 159.86. here are the new fuel rates of Pakistan:
- Petrol price jumped by Rs 12.03 per liter and new fuel rates are Rs 159.86.
- High-Speed Diesel new rate is 154.15 per liter a jump of Rs 9.53 from the previous price.
- Light-Speed Diesel observed a price increase of Rs 9.43, the new price is Rs 123.97 per liter.
- Superior Kerosene Oil’s new price is Rs 126.56 per liter, the hike of Rs 10.08 has been seen.
Old Rates of Petrol
However, the previous rate did also not match with 3 years back petrol prices in Pakistan. Here are the old rates of petrol that are not applied on.
- The old petrol price was Rs 147.83 per liter.
- High-Speed Diesel was available at Rs 144.62 per liter.
- Light-speed Diesel old rates are 114.54 per liter.
- Superior Kerosene Oil was available for Rs 116.48 per liter.
These rates are dismissed from all fuel stations nation wide and new rates are applied.
Govt Statement Regarding Petrol Prices Increased
According to the statement of Finance Division, there is a drastic change in petrol prices in the international market. They explained that Prime Minister Imran Khan has to reject the OGRA price hiked summary many times. But this time we have no choice. Even the government has levied 0% sales tax and reduced petroleum levy. This is only to provide relief to the public. Providing relief in tax means government bears the loss in revenue but they had tried to accommodate the public.
Conclusion
Petroleum products prices are affected by the international market. International war affects the currency rate and petrol products rate. But sometimes it’s the cause of a decrease in prices. We can hope that next time it will be to us as the good news of a reduction in prices. However, the continuous increase in prices will push the sale and production of electric vehicles. We can hope that very soon we will have a solution to get rid of high petrol prices and run our vehicles on electricity that is cheapest and more comfortable.
