Fuel Prices in Pakistan Rise Again, Hitting New Highs

The prices of fuel in Pakistan have been raised again, hitting new highs. The latest increase came into effect on September 1, 2023, and saw the price of petrol rise by Rs. 15 per liter, diesel by Rs. 17.20 per liter, kerosene oil by Rs. 14.85 per liter, light diesel oil (LDO) by Rs. 13.23 per liter, and high-speed diesel (HSD) by Rs. 17.20 per liter.

This is the third time in the past 45 days that fuel prices have been raised in Pakistan. The previous increases came into effect on August 16th and July 16, 2023.

The fuel prices in Pakistan have been increased again on September 1st, 2023. Here is the updated fuel price table:

Here is a detailed overview of the last three price hikes:

• 16th August 2023:
  • Petrol price was increased by Rs. 17.50 per liter, from Rs. 272.95 to Rs. 290.45 per liter.
  • Diesel price was increased by Rs. 20.00 per liter, from Rs. 273.40 to Rs. 293.40 per liter.
  • Kerosene oil price was increased by Rs. 18.35 per liter, from Rs. 253.54 to Rs. 271.89 per liter.
• 1st August 2023:
  • Petrol price was increased by Rs. 19.95 per liter, from Rs. 252.95 to Rs. 272.95 per liter.
  • Diesel price was increased by Rs. 19.90 per liter, from Rs. 253.40 to Rs. 273.40 per liter.
  • Kerosene oil price was increased by Rs. 18.83 per liter, from Rs. 234.71 to Rs. 253.54 per liter.
• 16th July 2023:
  • Petrol price was increased by Rs. 17.76 per liter, from Rs. 235.20 to Rs. 252.95 per liter.
  • Diesel price was increased by Rs. 18.24 per liter, from Rs. 235.16 to Rs. 253.40 per liter.
  • Kerosene oil price was increased by Rs. 17.18 per liter, from Rs. 217.36 to Rs. 234.54 per liter.

The latest increase in fuel prices is being blamed on the rising global oil prices and the depreciation of the Pakistani rupee. The Pakistani rupee has lost over 30% of its value against the US dollar in the past year, making imports more expensive.

The increase in fuel prices is expected to have a significant impact on the Pakistani economy. It will push up the cost of transportation, food, and other essential commodities, and could lead to inflation.

The government has said that it is working to reduce the impact of the fuel price hikes on the public, but it is unclear how it will do so.

The rising fuel prices are also a major challenge for the government’s efforts to revive the economy. The government is currently in talks with the International Monetary Fund (IMF) for a bailout package, and the IMF has demanded that the government take steps to reduce the fiscal deficit. The rising fuel prices will make it more difficult for the government to meet this target.

The latest price hike is likely to have a negative impact on the Pakistani economy and the lives of ordinary people. The government needs to take urgent steps to address the rising fuel prices and its impact on the economy.

In addition to the rising fuel prices, the Pakistani government has also announced a number of other measures to control inflation. These measures include increasing the minimum wage, providing subsidies on essential commodities, and controlling the prices of food items.

It remains to be seen how effective these measures will be in controlling inflation. However, the rising fuel prices are a major challenge for the government and the economy. The government needs to take urgent steps to address this issue.