The price of petrol has been increased by Rs 17.50 to Rs 290.45 per liter, while the price of diesel has climbed by Rs 20 to Rs 293.40 per liter under the caretaker government. This is being seen as a surprise by the new Govt.
The scenario for the already burdened population, which was already having trouble paying for pricey gas, appeared to be getting worse. Now that they will have to pay even higher prices, they face an additional financial burden.
In response to recent events, the Finance Division said that a modification in consumer prices within Pakistan was necessary due to the rise in oil prices on the global market over the previous two weeks. This choice has been made in response to how local pricing is being impacted by global market factors.
This announcement comes after the former government, which was led by the Pakistan Democratic Movement (PDM), declared a significant increase in fuel prices on August 1.
At that time, there was a huge increase in gasoline and diesel prices of Rs 19 per liter. The rising cost of oil worldwide was cited as the reason for this action.