In a recent announcement on Saturday, the federal government of Pakistan has raised the prices of petroleum products, effective from 16th April 2023. The Finance Minister, Ishaq Dar, stated that the price of petrol has been increased by Rs. 10, bringing it to Rs. 282 per liter. The price of high-speed diesel (HSD) has remained unchanged at Rs. 293 per liter.
The Finance Minister attributed this price hike to two main factors: the global increase in petroleum prices and the devaluation of PKR against the US dollar. Additionally, the price of kerosene oil has been raised from Rs. 180.29 per liter to Rs. 186.07, an increase of Rs. 5.78. On the other hand, the price of light diesel oil has been maintained at Rs. 174.68 per liter by adjusting government dues, as per the Finance Minister.
The government’s decision is expected to receive mixed reactions from the public, who are already grappling with the rising cost of living. A press release issued by the Finance Division displays the latest petroleum prices.