Coalition govt once again massively enhances petrol price

KARACHI: In a blatant shameless move, the coalition government has once again jacked up prices of petroleum products. It seems as if the government is testing patience of the nation on direction of the International Monetary Fund (IMF).

The Ministry of Finance has issued a notification regarding the price hike. After an increase of Rs14.85 a litre, the new petrol price will be Rs248.74.

High speed diesel price has been hiked by Rs13.23 a litre. Kerosene oil price has been boosted up by Rs18. 83 a litre. Light diesel price has been increased by Rs18.68 a litre.

Rs10 levy has been imposed on one litre of petrol and Rs5 levy on each litre of high speed diesel, kerosene oil and light diesel.

Read more: Govt approves imposition of Rs50 petroleum levy per liter

New price of high speed diesel will be Rs76.54 a litre now. Kerosene oil’s new price will be Rs230.26 a litre and light diesel oil’s price Rs226.15 a litre.

The new prices will be applicable from 12:00 am tonight.

The finance ministry’s notification read, “In view of the fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to apply petroleum levy partially and revise the existing prices of petroleum products as agreed with the development partners.”

Pakistan Tehreek e Insaf leader and former planning and development minister Asad Umar said the government which came into power on promise of making petrol cheaper and end inflation, has increased the price of petrol by Rs99 a litre and diesel by Rs133 a litre. “Any shame? Any shame???” he tweeted.

The incumbent rulers have started increasing prices of petroleum products every 15 days.

On June 2, the PML-N-led government had once again ruthlessly made a massive increase of Rs30 in prices of petrol and diesel.

Hence the new prices (per litre) were:

Petrol — Rs209.86

Diesel — Rs204.15

Light diesel — 178.31

Kerosene oil — Rs181.94

On June 15, the Ministry of Finance had announced another petrol price hike by saying, “In the wake of rising petroleum product prices in the international market and exchange rate variation, maintaining the fuel prices at the subsidized rate is constantly increasing the fiscal deficit and current account gap besides putting pressure on country’s foreign exchange reserves.

“Therefore, the government has decided to consider the proposal of OGRA to increase the petroleum products prices. However, Petroleum Levy and Sales Tax have been kept at zero to provide relief to the end consumers.”

New prices of petroleum products (per litre) with effect from 16 June, 2022 were as follows;

Petrol — Rs 233.89

High Speed Diesel — Rs 263.31

Kerosene — Rs211.43

Light Diesel Oil — Rs207.47

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