Government announces Rs 40 increase in petrol and diesel price!
The latest increase in petroleum product prices aligns with the International Monetary Fund (IMF) emphasizing the government to abolish the subsidies on essential commodities.
Finance Minister Miftah Ismail announced the decision in a press conference on Thursday.
He said that the government has decided to increase the prices of petroleum products which will be taken into effect tonight at 12:00 midnight.
After the hike, the price of petrol will be at Rs179.86, diesel at Rs174.15, kerosene oil at Rs155.56, and light diesel at Rs148.31.
New prices (per litre):
- Petrol — Rs179.86
- Diesel — Rs174.15
- Kerosene oil — Rs155.56
- Light diesel — Rs148.31
The Finance minister also shared the development in a tweet following the presser.
Government has decided to increase the prices of Petrol, High Speed Diesel, Kerosene Oil and Light Diesel Oil by Rs 30 per litre from Friday May 27, 2022. New prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre.— Miftah Ismail (@MiftahIsmail) May 26, 2022