Pakistan hikes petrol prices again, diesel to be PKR 7 costlier

Pakistan Government hiked prices of petrol and diesel for the next fortnight with significant increase in diesel prices by PKR 7, ARY News reported.

According to official notification as reported by ARY News, the new petrol prices has been raised by PKR 1, taking the price to PKR 257.13 per litre. The diesel prices has been increased to PKR 7 per litre, taking the new prices to PKR 267.95.

Notably, Pakistan government increased petroleum prices for the fortnight on January 1.

On January 1, Pakistan government announced an increase in the price of high-speed diesel by PKR 2.96 per litre and an increase in the price of petrol by 56 Pakistan paisas per litre, ARY News reported.

According to ARY News, the updated price for petrol and diesel were PKR 252.66 per litre and PKR 258.34 per litre, respectively.

Earlier, ARY News further reported that the Pakistan government has failed to reduce the petroleum levy, which has significantly contributed to the rise in petroleum prices. Over the past month and a half, petroleum prices have risen by PKR 12.14 per litre.

In November of last year, opposition parties in Pakistan severely criticised the central government for increasing petroleum prices, arguing that it would further burden inflation-hit citizens, Geo News reported.

Displeasure over the government’s decision was expressed by several leading opposition parties, including former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Jamaat-e-Islami.

According to Geo News, Jamaat-e-Islami Emir Hafiz Naeem-ur-Rehman strongly condemned the increase in petroleum prices, calling it “shameful.” The JI leader criticised the government for its inability to provide relief to the general public or the industrial sector.

Hafiz Naeem highlighted that while international prices are decreasing, Pakistan is experiencing price hikes.