The federal government on Wednesday dropped a petrol bomb by increasing the price of gasoline by Rs 5 per liter with immediate effect due to the rise in oil costs on the international market and devaluation of the Pakistani currency.
The finance ministry in a press statement said, “In the last fortnight, Platts Singapore prices registered an increase. This along with a depreciation of Pak Rupee has resulted in an increase of POL products in Pakistan.”
The price of gasoline will now be Rs272 per litre, down from Rs267 per litre, according to the ministry. The government also increased the price of high-speed diesel (HSD) by Rs13, raising it from Rs280 per litre to Rs293 per litre.
Kerosene oil now costs Rs2.56 more per liter than it did previously, at Rs190.29 per liter. The cost of light diesel fuel, meanwhile, has remained constant at Rs184.68 per liter.
The government decreased the cost of gasoline by Rs. 5 per litre on February 28.