Government Raises Petrol Price by Rs. 19.95/Liter

01 Aug 2023

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Government Raises Petrol Price by Rs. 19.95/Liter

On Tuesday, Finance Minister Ishaq Dar revealed that the petrol price in Pakistan will see an increase of Rs19.95 per litre, bringing it to Rs272.95 for the next fortnightly review. He cited that this step was taken in the interest of the nation.

Delayed Announcement Amid Inflation Concerns

Originally scheduled for July 31, the announcement on new rates was delayed as the government considered the impact of the price hike on inflation-weary citizens.

Product	Existing prices w.e.f 16.07.2023	New prices w.e.f 01.08.2023	Change
Petrol	Rs253	Rs272.95	Rs19.95
Diesel	Rs253.50	Rs273.40	Rs19.90

Inevitable Hike in Prices

With his government's term ending on August 12, Ishaq Dar, delivering his last announcement as finance minister, asserted that the price hike was unavoidable. Pakistan had previously agreed with the International Monetary Fund (IMF) on implementing the petroleum development levy to the rates.

Petrol Fuel Prices in Pakistan Fuel Prices Increase Fuel Cost in Pakistan Oil Prices 2023

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