Government Hikes Petrol & HSD Price by Rs 14 & Rs 18 Respectively
New fuel prices: Government hikes Petrol & HSD by Rs 14 & Rs 18 respectively effective from September 2023 onwards.
In another tweet after 15 days of early massive increase, the Ministry of Finance has disclosed the huge increase in the prices of petrol and High-Speed diesel in the country. This time the provisional Government of Pakistan has increased the prices of petrol and high-speed diesel (HSD) by Rs 14.91 and Rs 18.44 per litre, respectively, crossing the Rs 300 mark for the first time in history.
The new Petrol price in Pakistan from 1st September 2023 will be Rs 305.36 and High-Speed Diesel Rs 311.84 respectively.
New Fuel Prices From 1st September Onwards
The petroleum levy on petrol has also been raised by Rs 5 per liter to reach a maximum of Rs 60 (Reported Dawn). This follows recent hikes and results in a total increase of Rs 31.41 and Rs 38.44 per liter for petrol and high-speed diesel in just 15 days. The increase in fuel prices can be attributed to a weaker rupee and higher global oil prices as always.
Previous Fuel Hike on August 16th, 2023
In its prior hike, on August 16th, 2023, the government via a swift notification increased the price of petrol and diesel by Rs 17 and Rs 14. In just a short term of 15 days, the prices shoot up again.
In conclusion, the recent increase in fuel prices in Pakistan can have a significant impact on the general public and the economy. The government must take necessary measures to control inflation and provide relief to the general public, especially those belonging to lower- and moderate-income households. The increase in fuel prices can lead to inflation, which can have a negative impact on the economy. The government must take necessary steps to control inflation and provide relief to the general public in particular.
