Fuel prices increased again for the third time in a single month and will remain effective for at least 15 days.
Fuel price hike bomb strikes again across the country. The new price rate will be effective from today March 1st.
According to Finance Minister of Pakistan, the effective price will be same for next 15 days.
Updated Fuel Prices:
- Petrol: Rs.73 per liter
- High speed diesel: Rs.82
With a hike in price of Rs.1.71 per liter, petrol will be sold at Rs.73 per liter.
High speed diesel price is increased from Rs.1.52 per liter. From Rs. 80.48 per liter, now high speed diesel will be sold at Rs.82 per liter.
When nation witness price hikes the last time, light speed diesel price was one which remain unaffected. But this time its price also saw an increase of Rs. 0.66 per liter. Now it will be sold at Rs. 44.01 per liter.
People will also be spending Rs 0.75 per liter more when buying kerosene oil as its price hiked from Rs. 43.25 per liter to Rs. 44 per liter.
People have been quite used to in bearing increment in fuel price from last few weeks. Although prices of some petroleum products remain unchanged. This is the third time in this month that people will have to bear price a hike in petroleum products.
Scenario Behind the Price Hikes:
As stated by Ishaq Dar last time, price remained unchanged for kerosene oil and light diesel oil. As these two products are widely being used by lower income class, so to provide them with maximum relief prices were not changed. According to Finance Minister Ishq Dar, government was committed to provide a subsidy of Rs. 3 billion on fuel products.
However at the press conference which was held on Tuesday, Finance Minister Ishaq Dar announced the increase in price for kerosene and light diesel oil. OGRA proposed a massive price hike in prices of kerosene oil and light diesel oil which were Rs. 17.55 per liter and Rs. 10.94 per liter respectively. Whereas Rs. 2.96 per liter increase in petrol prices and Rs.2.18 per liter increase in high speed diesel price was also requested.
The decision came out right after OGRA proposed these prices to Ministry of Petroleum and Natural Resources.