When the prevailing financial meltdown along with back-to-back fuel price hikes has shattered purchasing power of the middle-class salaried class, petrol with low prices si nothing less than a piece of great news.
Federal Minister of State for Petroleum Musadik Malik stated that prices of petrol in Pakistan would decrease after the incumbent government’s agreement with Russia. Oil prices are determined according to the global market; we may suffer more difficulties with the purpose of seeking strong Pakistan, he added.
Petrol Prices Inched Up by Rs. 22.20/L
With an increase of Rs 22.20 per litre in petrol price, the government dropped a wrecking ball of back-breaking inflation on the masses, which in turn has nudged millions below the poverty line.
As per the Finance Ministry, the price of High-Speed Diesel (HSD) has also been increased by Rs. 17.20 per litre. New prices will be applicable from February 16, 2023.
This is how much the prices of petroleum goods have increased, Petrol Rs. 22.20. High-Speed Oil Rs. 17.20, Kerosene Oil Rs. 12.90 and Light-Speed Diesel (LDO) Rs. 9.68.
Meanwhile, the new fuel prices in Pakistan are:
Petrol Rs. 272
High-Speed Oil Rs. 280
Kerosene Oil Rs. 202.73
Light-Speed Diesel Rs. 196.68
If you breakdown the price of petrol, the refinery price on February 16 is 205.6, Inland Freight Equalization Margin (IFEM) is Rs. 3.4, Petroleum Development Levy (PDL) is Rs. 50/liter, OMC margin is Rs. 6, dealer margin is Rs. 7, while sales tax is still at Rs. 0.
What do you think about the fresh hike observed in petrol price? Do you think fuel prices will come down soon? Tell us in the comments section.
Now where is your scientist, economist, sunil manj who was raising questions on ImranKhan Govt’s capability with Rs.5 or Rs.10 price hike every other day when the intn’l petrol prices were all time high, now the petrol cost is lower than ever, and prices are all time high in Pakistan, seems like the najoomi sahb will find another good reason to justify it. A patwari will always be a patwari doesn’t matter if he spent time in LUMS or wherever.