Pakistan wakes up to petrol and diesel prices jacked up by Rs35 on Sunday!
Finance Minister Ishaq Dar on Sunday announced that the price of petrol and diesel will go up by Rs35 to be effective from today, following the devaluation of the rupee against the dollar.
While the prices of kerosene oil and light diesel oil have been increased by Rs18.
In a televised address, which aired at 10:50 am, Ishaq Dar unveiled the price revision that went into effect at 11:00 am — 10 minutes later.
Fuel prices as of 11 am, Jan 29:
|Commodity||Existing prices |
|New prices |
29.1.2023 (11 am)
|Increase/Decrease (in rupees)|
|Light diesel oil||Rs169||Rs187||+18|
In the address, Finance Minister Ishaq Dar said that speculations were rife on social media regarding an Rs50 increase in the prices of petrol and diesel.
“Because of this, we have received reports of artificial shortages in the market.”
“The Pakistani rupee saw devaluation last week […] and now we are seeing an 11 per cent increase in the prices of petroleum products in the international market,” he added.
“Despite international prices and rupee devaluation, on directions of Prime Minister Shehbaz Sharif, we have decided to increase the minimum price of these four products.
“We have decided to increase the price of petrol and diesel by Rs35. The price of kerosene oil and light diesel oil has been increased by Rs18,” Dar announced, adding that the new prices would come into effect at 11 am today.
He hoped that the immediate decision would dismiss the rumours about the shortage of petrol.
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