In a rather surprising move, the federal government has jacked up the petrol price in Pakistan by Rs. 6.72 for next 15 days of August. It is pertinent to mention that the masses were expecting a reduction in price as international rates are coming down.
New Petrol Price in Pakistan
After the latest hike in prices:
- Petrol now costs Rs. Rs233.91 as compared to Rs. 227.19.
- New Diesel rate is Rs. 244.44 instead of Rs. 244.95 after seeing a reduction of Rs. 0.51.
- Latest rate of Kerosene Oil is Rs. 199.40 against Rs. 201.07 as it saw a decrease of Rs. 1.67.
- Last but not least, Light Diesel Oil now costs Rs. 191.75 compared to the previous rate of Rs. 191.32 as its price is increased by Rs. 0.43.
According to a notification by Finance Division, the government has decided to revise the prices due to fluctuations in petroleum prices in international market and exchange rate variation. “The new prices are effective from August 16, 2022,” the notification read.
Rumors About Reduction
For last couple of days, there were rumors that the federal government is decreasing petrol price in Pakistan. As per those reports, the petrol price was going down by Rs. 18, while the diesel was observing a slump of Rs. 40. However, the reports proved to be wrong as the government rather threw another midnight petrol bomb on the masses.
As we have discussed earlier, the increase in petrol price directly impacts the daily lives of masses in the country. As soon as petrol goes up, everything becomes expensive as everyone has one line to say: “Petrol Mehnga Hogya Hay”.
Petrol Levy and Sales Tax
The current government has agreed to take Petrol Levy (PL) to Rs. 50 under a deal with International Monetary Fund (IMF). Furthermore, the Sales Tax would also be taken to 17% under the same deal. Currently, the PL is Rs. 20, while there is 0% Sales Tax, so it means that we could see more price hikes in the future.
But the global fuel prices are coming down, which is a good news for all of us. Let us see what decision the government takes in the coming days.
What do you think about this new petrol price in Pakistan? Please share your thoughts in the comments section?
Well this year’s petrol price worked wonderfully on 14th August, very few people took to streets on silencer free bikes, which made us feel safe. In 2020 we had a hard time going to offer prayers as youngsters were to loud and idiotic to see other peoples needs.