“In the wake of fluctuations in petroleum prices in the international market and exchange rate variations, the government has decided to revise the existing prices or petroleum products to pass on the impact to the consumers,” the statement released by the Finance Division read.
While the government raised the price of petrol, it slashed the price of diesel by Rs0.51.
In line with the new changes, the price of petrol will be Rs233.91 per litre, diesel will be Rs244.44 per litre, and kerosene oil will be sold for Rs199.40 per litre, and the price of light diesel oil will be Rs191.75 per litre.
The new prices will come into effect from August 16, 2022.
A day earlier, Federal Minister for Finance and Revenue Miftah Ismail said that owing to the conditions set forth for the country by the International Monetary Fund (IMF), the Government of Pakistan is not in a position to afford any petroleum subsidies.
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