After Pakistan, UAE also increased its fuel prices, but the reason is different. Pakistan’s incumbent government announced a whooping jump of Rs. 35 per liter in petrol prices in the face of the appreciating dollar rate against the Pakistani Rupee. On the contrary, the emirates’ decision came after a global price hike.
New prices
Here are the new POL prices in UAE.
- Super 98 will now cost AED3.05 per litre against the old price AED2.78 – recording an increase of 10%.
- Special 95 is up from AED2.67 to the new price of per litre to AED2.93 per litre.
- Meanwhile, Diesel used to cost AED3.29, but the new price is AED3.38 per litre.
Mind you, Fuel Price Committee in UAE regularized petrol prices in the face of the coronavirus pandemic in 2020. Later, the authority removed the controls after global oil prices witnessed a big hike.
Petrol Prices in Pakistan
On Sunday, Finance Minister Ishaq Dar announced a petrol price hike of Rs. 35 per liter due to the extreme depreciation of the Pakistani rupee against mighty US dollar.
In his announcement regarding the petrol price hike, Ishaq Dar also said that the prices of kerosene oil and light diesel oil have been increased by Rs18. In the aftermath of the removal of the unofficial cap on the dollar, the Pakistani rupee hit a historic low against the dollar, which has led to this inflation.
A couple of days ago, the Oil & Gas Regulatory Authority (OGRA) had proposed a petrol price hike of Rs. 83.5. The government chose to increase the price partially. Yet, it is the highest the petrol price has ever been.
What do you think about the recent petrol price hike and what you predict about further increase in POL prices in Pakistan. Tell us in the comments section.
