The hike in gasoline and diesel prices by Rs. 5 and Rs. 13 per litre, respectively, was announced by the Ministry of Finance.
It stated in a notification that “Platts Singapore prices registered an increase over the past two weeks. POL goods have increased in Pakistan as a result of this and the Pak Rupee’s depreciation. As a result, MS (Petrol) has increased in price by Rs. 5 per litre and HSD has increased in price by Rs. 13 per litre.
It continued by saying that by lowering government dues on kerosene oil, the price rise was kept at Rs 2.56. Corresponding to this, the dues have also been adjusted in order to maintain the price of light diesel oil.
The revised prices will go into effect on March 16, 2023.
Last month, the country’s finance czar Ishaq Dar announced a reduction in the price of petrol by Rs5 per litre while keeping the price of High-Speed Diesel unchanged at Rs280 per litre.
In recent times, it was reported that country’s oil reserves are running low. The government refuted the speculations but commuters faced issues, particularly in Punjab.
