Pakistan increases petrol, diesel prices by Rs35 per litre after rupee devaluation

Pakistan increases petrol, diesel prices by Rs35 per litre after rupee devaluation

ISLAMABAD – The federal government has jacked up the prices of petrol by Rs35 per litre in wake of the devaluation of the rupee against the dollar.

Finance Minister Ishaq Dar announced the increase in a televised address, announcing that the prices of kerosene oil and light diesel oil have been increased by Rs18.

After the recent surge, the new petrol price has been fixed at Rs249.80 per litre. The price of the diesel has been jacked up to Rs262.80, Dar announced.

Meanwhile, the price of kerosene oil has been increased to Rs189.93 per litre after the surge of Rs18 while the light-speed diesel saw as much increase with the new price soaring to Rs187 per litre.

Latest prices

POL products Old prices New prices Price difference
Petrol Rs214.80 Rs249.80 Increased by Rs35
Diesel Rs227.80 Rs262.80 Increased by Rs35
Kerosene oil Rs171.83 Rs189.83 Increased by Rs18
Light diesel oil Rs169 Rs187 Increased by Rs18

In his address, Dar justified the move, saying the government has not increased the petroleum prices in the last couple of months, linking the recent surge with an increase of petroleum products in the international market.

The new petroleum prices will come into effect immediately on Sunday, Dar said.

Long queues at petrol stations in several cities

Extended queues of two-wheelers and cars were spotted at petrol pumps in several Pakistani cities in the wake of ‘limited supplies by oil marketing companies’.

Distressed people from cities including Sialkot, Bahawalpur, Multan and Muzafargarh complained of fuel shortage while others shared the ordeal to wait for an hour to get fuel petrol.

As the media catches the air of petrol shortage, panicked citizens rushed to petrol pumps on Saturday. Several reports hint at panic buying at petrol stations as several pumps had already stopped sales owing to the limited availability of stocks.