- he government has raised the price of petrol by Rs. 26.02 per litre.
- Notably, this marks the first instance in Pakistan’s history where the price of petrol surpasses.
- The decision to revise petroleum product prices is attributed to the upward trend.
In a significant development, the caretaker government of Pakistan has announced substantial increases in petrol and high-speed diesel (HSD) prices for the forthcoming fortnight, effective from September 16, 2023, until September 30, 2023. These revisions are in response to the escalating global petroleum prices.
- Price Adjustments
The government has raised the price of petrol by Rs. 26.02 per litre and increased the cost of high-speed diesel (HSD) by Rs. 17.34 per litre. This adjustment brings the new petrol price to Rs. 331.38 per litre, while HSD will now be priced at Rs. 329.18 per litre.
- Historic Milestone
Notably, this marks the first instance in Pakistan’s history where the price of petrol surpasses the value of the US Dollar, which stood at 296.85 on September 15, 2023.
- Global Factors
The decision to revise petroleum product prices is attributed to the upward trend in international petroleum prices.
- Previous Revisions
During the preceding review period, the caretaker federal government had already increased petrol prices by Rs. 14.91 per litre, and HSD prices had risen by Rs. 18.44 per litre. These adjustments had brought the prices of both commodities to Rs. 305.36 per litre and Rs. 311.84 per litre, respectively.
This latest increase in fuel prices reflects the government’s response to the dynamic global energy market and underscores the challenges facing Pakistan’s economy. The revised prices will remain in effect for the latter half of September 2023.