Fuel Price Hikes Announced as Govt Increases Petrol and Diesel Prices by Rs. 55 per litre, an almost 20% surge in the prices of fuel for daily transportation.
The Government of Pakistan announced petrol and diesel hike by Rs. 55 per litre as Pakistan braces for the economic turmoil brought upon by the current Iran Conflict. Ishaq Dar in his press conference stated “In this scenario, petroleum product prices are rising sharply. Various products have seen an increase of around 50 to 70 percent”.
As of 1st March, this year, Diesel prices were Rs. 280.86 which increased to Rs. 335.86 as of today, 7th March, this year. Moreover, Petrol prices also increased from Rs 266.17 to 321.17 within the same timeframe.
This saw an approximately 19% rise in the prices of Diesel in the aftermath of escalating Iranian Conflict while petrol prices were hiked by 20%. In comparison, according to Business Recorder, the last review on the 28th of February this year saw a price increase of Rs. 8 per litre for Petrol while the price of Diesel increased by Rs 5.16. This shows how much of a significant impact the Iranian Conflict has caused towards Pakistan.
To check out our latest article on the Iranian Conflict, make sure to click the linked article above.
