The government hiked the cost of all petroleum products, including gasoline and diesel, dealing a severe blow to Pakistani consumers. The devaluation of the Pakistani Rupee was identified by the Ministry of Finance as the cause of the price increase.
With effect from today February 16, 2023, the cost of gasoline will increase by Rs. 22.20 per litre to Rs. 272, while the cost of high-speed diesel would increase by Rs. 17.20 per litre to Rs. 280. In addition, the cost of kerosene has increased by Rs. 12.90 per litre, to Rs. 202.73 per litre, and the cost of light diesel oil has increased by Rs. 9.68 per litre, to Rs. 196.68 per litre.
The Pakistani government has raised petroleum prices before; only days before the previous fortnight’s review, they announced a 35-rupee per litre instant rise in the cost of gasoline and diesel.
The latest increase in gasoline prices is anticipated to have a significant impact on Pakistani people’s daily life, who are already struggling to make ends meet as a result of rising inflation and other economic difficulties.
Many Pakistanis are urging the government to act to reduce inflation and offer relief to the populace in light of the recent price increases. Many people are keeping an eye on the situation as it develops to see what actions the government will take in reaction to these events.
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