Pakistan’s petrol and diesel prices increased by 35rs; See what the actual price now

Key takeaways: 

• The new prices of Pakistan’s petrol and diesel would come into effect at 11 am today, Pakistan’s Finance Ministry tweeted. 

Cash-strapped Pakistan declared a 35 rupees rise in Pakistan’s petrol and diesel prices, days after its currency declined to its lowest against the US dollar in the interbank and open market.

Pakistan’s petrol and diesel prices increased by 35rs: 

Petrol and diesel costs in Pakistan have risen by 35 rupees. In comparison, the prices of kerosene oil and light diesel oil have been advanced by 18 rupees. 

Pakistan Finance Minister Ishaq Dar declared in a televised talk 10 minutes before the soaring prices came into effect.

Ministry of Finance on Pakistan’s petrol and diesel: 

“Government declared new costs of Petroleum Products with effect from 11.00 hrs, 29 Jan 2023. High Speed Diesel-262.80 rs per litre MS Petrol –249.80 rs per litre each Kerosene Oil -189.83 rs per litre each Light Diesel Oil – 187 each per litre rs,” Pakistan’s Ministry of Finance said in a tweet.

Finance Minister Ishaq Dar stated that despite global prices and rupee depreciation, “on orders of Prime Minister Shehbaz Sharif, we have chosen to increase the lowest price of these four products,” Dawn newspaper said.

Ishaq Dar continued that in the past four months, the price of petrol was not raised. “In fact, the costs of diesel and kerosene oil were dropped,” Dawn quoted him as saying.

Explaining the sense behind the growth, Mr Dar said that it was done based on the suggestion of the oil and gas regulatory regime. 

“They said there were documents of artificial shortages and fuel hoarding in expectation of price climbs – hence this cost rise is being done instantly to fight this.”

The Pakistani rupee’s value has dropped by 34 rupees versus the US dollar since Thursday, the most significant downfall in both absolute and percentage factors since the new exchange rate system was introduced in 1999.