The price of petroleum products has been raised by Rs30 per litre by the federal government, with the rise taking effect at midnight today.
Miftah Ismail, the Finance Minister, revealed the news during a press conference in Islamabad. Petrol will cost Rs209.86 with the increase, diesel will cost Rs204.15, and kerosene oil will cost Rs181.56.
It’s worth noting that this is the second such hike in less than two weeks after the coalition government led by the Pakistan Muslim League-Nawaz (PML-N) boosted the price of petrol by Rs30 per litre on May 26, the country’s largest fuel price increase ever.
New Per-Litre price
- Rs209.86 for petrol
- 204.15 rupees for diesel, 178.31 rupees for light diesel
- Rs181.94 for kerosene oil
The finance minister admitted that the increase in gasoline prices will have the greatest impact on the lowest income section of society, but added that the price of oil has also skyrocketed on the worldwide market.
In response to a question, the finance minister stated that he hoped to reach a deal with the IMF in June, but that the government still needed to implement some reforms.