Finance Minister Ishaq Dar increased the price of petrol and diesel by Rs 35 per liter from 11 am on Sunday. However, the Finance minister announced this news in a short televised address to the public today and claimed that the price of kerosene and diesel has increased by 18 rupees per liter. However, Ishaq Dar dismissed reports of a petroleum shortage, claiming an “artificial shortage.” He said: Sufficient fuel was available, and there was no reason for such a shortage under normal conditions.
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The finance minister said the decision was announced early as social media was abuzz with rumors of a hike of Rs.50. However, the Finance minister attributed the increase in petroleum prices to the decrease in the value of the Pakistani rupee against the US dollar and the increase in the price of oil in international markets.
In addition to petrol, the price of high-speed diesel was also increased by Rs. 35 per liter, and the price of light oil (LDO) and kerosene increased by Rs. 18 per liter. With the price increase, petrol will be Rs. 249.80 . HSD price will be Rs.262.80 per liter. Similarly, the new price of kerosene will be 189.83. while the price of light diesel oil with Rs.187 per liter.
Dismiss the rumors about the petrol shortage:
Even with the rupee devaluation and the increase in international prices, it was determined that a minimum price would be increased on the directions of PM Shehbaz,” said Dar. He hoped the immediate decision would dismiss the rumors about the petrol shortage.
Read More: Petroleum Prices: PM Demands a Summary to Reduce Fuel Prices
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