Price of Diesel Up by Rs 18.44, Petrol Rs 14.91 per liter

The caretaker government on Thursday increased price of diesel by Rs 18.44 per liter effective from September 1, 2023.

One of reasons for hike in prices of petrol and diesel is the massive depreciation of rupee against dollar.

The government increased the price of petrol by Rs 14.91 per liter.

The price of both petrol and diesel crossed Rs 300 per liter mark for first time in history.

The price of high speed diesel has gone up to Rs 311.84 per liter from Rs 293.40 per liter registering an increase of Rs 18.44 per liter.

The price of petrol also went up to Rs 305.36 per liter from Rs 290.45 per liter witnessing an increase of Rs 14.91 per liter.The price of Diesel Goes up by Rs 20 per liter

The price of diesel is widely used in transport and agriculture sectors. Therefore massive increase in price of diesel would have negative impact on the lives of the masses.

Due to use in transportation, the transport rates will go up that would result in higher inflationary impact of commodities.

The farmers also use diesel in tractors and therefore, the rise in prices will also add miseries for the farmers.

Pakistan is net importer of petroleum products and therefore massive depreciation of rupee against dollar had also resulted in hike in prices of both petrol and diesel that are widely used by the masses.

The rupee was depreciated by Rs 9.93 that also led to massive hike in prices of petroleum products.

The prices of kerosene oil and light diesel oil were supposed to be hiked by Rs 13.82 per liter and Rs 8.66 per liter respectively.

But the government has not been announcing the prices of these petroleum products for last couple of months.

Therefore, according to press release issued by the finance division, there was no announcement regarding new rates of these two petroleum products.

The finance ministry in a statement said that owing to the increasing trends of petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing consumer prices of petroleum products.

It further said that new prices of petroleum products would be effective from September 1, 2023.