The Petrol Prices in Pakistan have been increased from 1 July 2022 on the directives of Prime Minister Shehbaz Sharif and a notification has been issued by the Finance Division in this regard.
According to the announcement, Petrol Price in Pakistan has been increased by Rs. 14.85 per litre, while the Price of High-Speed Diesel (HSD) in Pakistan has been hiked by Rs. 13.23 per litre. Meanwhile, the Price of Kerosene Oil will be increased by Rs. 18.83 per litre and the Price of Light Diesel Oil (LDO) will be hike by Rs. 18.68 per litre.
This will bring the Price of Petrol in Pakistan at Rs. 248.74 per litre, while the Price of High-Speed Diesel will now be Rs. 276.54 per litre after the increase. Meanwhile, the new Price of Kerosene Oil will be Rs. 230.26 per litre and Light Diesel Oil (LDO) will now be sold at Rs. 226.15 per litre.
Petrol Prices in Pakistan From 1 July 2022
PRODUCT | CURRENT PRICE (PKR) | NEW PRICE (PKR) | Change (PKR) |
|---|---|---|---|
Petrol | 233.89 | 248.74 | +14.85 |
High Speed Diesel (HSD) | 263.31 | 276.54 | +13.23 |
Kerosene Oil | 211.43 | 230.26 | +18.83 |
Light Diesel Oil (LDO) | 207.47 | 226.15 | +18.68 |
It bears mentioning that the Federal Government has added petroleum levy of Rs. 10 per litre on Petrol, Rs. 5 per litre on High-Speed Diesel, Kerosene, and Light Diesel Oil (LDO), respectively. The Latest Petrol Prices in Pakistan will come into effect from 1 July 2022.
“In view of the fluctuations in petroleum prices in the international market and exchange rate variation, the Government has decided to apply petroleum levy partially and revise the existing prices of petroleum products as agreed with the development partners.” stated the notification.
It was initially being reported that coalition government planned to increase the Petrol Price in Pakistan by Rs. 4.55 per litre, while they planned to hike the price of High-Speed Diesel (HSD) by Rs. 16.89 per litre. However, these prices were worked out without the imposition of petroleum levy (PL) and General Sales Tax (GST).
If the Federal Government adds petroleum levy of Rs. 10 per litre and 17% GST, the Petrol Price will would have risen around Rs. 290 per litre, making life hell for the poor and middle-class of the country with massive inflation.
It is pertinent to mention that Petrol Prices in Pakistan have been increased by over Rs. 100 per litre ever since the coalition government came to power after ousting Imran Khan as Prime Minister through a no-confidence motion. The incumbent government has so far blamed the previous PTI government for all the challenges, while inflation has been on the rise since they came to power.
Read more: PM Sasta Petrol, Sasta Diesel Relief Package – How to Apply.
