The Federal Government has decided to increase the Petrol Prices in Pakistan from 3 June 2022 on the directives of Prime Minister Shehbaz Sharif, announced the Finance Minister Miftah Ismail during a press conference in Islamabad on Thursday.
According to the announcement, the the Price of Petrol, High-Speed Diesel (HSD), and Light Diesel Oil (LDO) will be increased by Rs. 30 per litre, while the Price of Kerosene Oil will be hiked by Rs. 26.38 per litre. The new Petrol Prices in Pakistan will come into effect from mid-night 3 June 2022.
This will bring the Petrol Price in Pakistan to Rs. 209.86 per litre from old rate of Rs. 179.86 per litre, the Price of High Speed (HSD) to Rs. 204.15 per litre compared to older rate of Rs. 174.15 per litre, the Price of Kerosene Oil to Rs. 181.94 per litre instead of Rs. 155.56 per litre, and the Price of Light Diesel Oil (LDO) to Rs. 178.31 per litre instead of the old rate of Rs. 178.31 per litre.
Petrol Prices in Pakistan From 3 June 2022
|PRODUCT||CURRENT PRICE (PKR)||NEW PRICE (PKR)||Change (PKR)|
|High Speed Diesel (HSD)||174.15||204.15||+30.00|
|Light Diesel Oil (LDO)||148.31||178.31||+30.00|
Finance Minister Miftah Ismail said that despite the increase in the Petrol Prices in Pakistan, the Government was still bearing a loss on these commodities. “However, we are facing losses of Rs8 on light diesel, Rs9 on petrol, and Rs23 on high-speed diesel,” he said, adding that Kerosene Oil was the only commodity which was not leading to losses for the government.
This is a copy of the notification:
Prices of petrol, High Speed Diesel and Light Diesel Oil are to be increased by Rs 30 per litre from June 3, 2022. Price of Kerosene to be increased by Rs 26.38 from June 3, 2022.— Miftah Ismail (@MiftahIsmail) June 2, 2022
He acknowledged that lower-income segment of the society will be greatly impacted as a result of the increase in the petroleum prices, but noted that rate of crude oil has also sky-rocketed in the international market. The new Petrol Prices in Pakistan will take effect from 3 June 2022.
However, the Federal Government has announced a Relief Package in light of the increase Petrol Prices, which will provide Rs. 2,000 stipend to the poor through Benazir Income Support Program (BISP). Prime Minister Shehbaz Sharif added the programme would provide relief to 14 million families across Pakistan.