August 15, 2023
1 min read

Pakistan braces for petroleum price hike

As per the details, the price of crude oil has increased from USD 86 to USD 91 per barrel due to the rise in petroleum products’ global prices…reports Asian Lite News

The price of petroleum products in Pakistan is likely to witness a rise by Pakistani Rupees (PKR) 20 per litre, Pakistan-based ARY News reported citing sources.

As per the details, the price of crude oil has increased from USD 86 to USD 91 per barrel due to the rise in petroleum products’ global prices. In addition, a premium charge of USD 2 per barrel has been applied to crude oil.

The per litre price of both petrol and diesel has increased from USD 97 to USD 102, demonstrating an upward trend, ARY News reported. If these prices persist, the price of petrol could potentially witness a rise of PKR 15 per litre, while the cost of diesel might see a surge of PKR 20 per litre, across the nation.

During its tenure, the Pakistan Democratic Movement (PDM)-led government increased the cost of petroleum products and the prices reached as high as PKR 129.25 per litre for petrol, according to ARY News report. Meanwhile, the basic electricity tariff was increased by up to PKR 15.41 per unit.

Similarly, gas rates were raised by up to 112 per cent, ARY News reported. In 2022, an additional surcharge of PKR 3.39 per unit was imposed on electricity consumers. Gas consumers were burdened by an additional burden of more than PKR 310 billion.

Earlier on June 30, Pakistan Finance Minister Ishaq Dar announced that petrol prices will remain the same but diesel prices have been increased by Rs 7.50 for the next fortnight, Pakistan-based Geo News reported.

In a late-night press conference, Dar said, “There has been no increase in the price of petrol.” He, however, added that the diesel price has been increased by Rs 7.50 per litre. (ANI)

ALSO READ: Amid uncertainty, challenges, Pakistan celebrates I-Day

Previous Story

Finance Minister Sitharaman highlights India’s digital success at G20

Next Story

Prachanda set for September visits to US, China

Latest from -Top News

Singapore’s Ruling Party Achieves Landslide Victory

Prime Minister Lawrence Wong, whose party won the election, thanked supporters.,..reports Asian Lite News Singapore’s ruling People’s Action Party (PAP) won 87 of the 97 seats in Parliament in Saturday’s general election,

Jaishankar, Lavrov Discuss Pahalgam Terror Attack

Both the Ministers discussed issues of Russian-Indian cooperation and the aggravation of India-Pakistan relations following the terrorist attack in Pahalgam. External Affairs Minister (EAM) S. Jaishankar spoke to the Russian Foreign Minister

Ukrainian forces to join VE  procession  

Ukrainian personnel will join around 1,000 UK armed forces members, including soldiers on horseback and military bands, to symbolise “the global support for their continued fight for freedom” against Russia  krainian armed

Rajnath Singh to skip Russia visit

The decision comes amid rising tensions between India and Pakistan following the recent terror attack in Pahalgam, Jammu and Kashmir…reports Asian Lite News Defence Minister Rajnath Singh will not likely attend Russia’s

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of
Go toTop

Don't Miss

Terror threat: Pak govt asks Imran to delay long march

Sanaullah added that he has instructed the Islamabad IGP to

Imran slammed for misusing state agencies against Shehbaz

Marriyum Aurangzeb called Imran Khan a ‘spineless, insecure coward’, who