petrol price increase 15 infosette

The Government Raises petrol Price by nearly Rs15 per litre.

 

  • Starting from July 1, the price of petrol will be Rs248.74 per litre.

  • Diesel will be available at Rs276.54 per litre.

  • The coalition govt, since coming to power, has raised the price of petrol by Rs84.

Petrol Price increase infosette

On Thursday, the federal government raised the price of petroleum products for the next two weeks, putting an additional burden of nearly Rs15-18 per litre petrol price

According to the Finance Division’s notification, due to fluctuations in international petroleum prices and exchange rate fluctuations, the government has decided to partially implement a petroleum levy and revise the existing prices of petroleum products “as agreed with the development partners.”

The new prices will go into effect on July 1, 2022.

With the new increase, petrol will cost Rs248.74/litre, diesel will cost Rs276.54/litre, kerosene oil will cost Rs230.26/litre, and light diesel oil will cost Rs226.15/litre.

Since taking office in April, the coalition government has raised the price of petrol by Rs84. It raised the petrol price by Rs30 on May 26, followed by another Rs30 increase on June 2. And today, June 15, it raised the price by another Rs24.

ProductExisting prices
w.e.f
16-06-2022
New prices
w.e.f
01-07-2022
Increase/(-)
Decrease
Petrol Rs233.89Rs248.74+14.85
Diesel Rs263.31Rs276.54+13.23
Kerosene oilRs211.43Rs230.26+18.83
Light diesel oilRs207.47Rs226.15+18.68

Finance Minister Miftah Ismail told a press conference, flanked by State Minister for Petroleum Musaddaq Malik, that Pakistan has seen “significant success” on the International Monetary Fund (IMF) programme, and that after several deliberations, the two sides are optimistic about the revival of the extended fund facility.

“Pakistan has also received the Memorandum of Economic and Financial Policies (MEFP) for the seventh and eighth review, under which there are some prior actions,” he said, revealing that one of those was to raise the price of gasoline through the petroleum development levy (PDL) to restart the programme. He reiterated that the Imran Khan-led government had decided to raise the price of petroleum products by Rs4 per litre every month; however, the PTI government broke the IMF’s promise by providing subsidies, putting additional strain on the exchequer.

Read More : Fuel Prices May Rise Up To Rs 16.89/Litre

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