World
Pakistan Raises Petrol and Diesel Prices Ahead of Friday
The government of Pakistan has increased petrol and high-speed diesel prices effective August 14, affecting consumers nationwide.
On Thursday, the government of Pakistan announced a price increase for petrol and high-speed diesel (HSD). Petrol prices have been raised by Rs0.45 per litre, bringing the new price to Rs325.43 per litre. HSD prices saw a higher increase of Rs1.16, resulting in a new price of Rs383.95 per litre.
The price adjustment is reported to be in response to various economic factors and comes amid ongoing regional tensions, although the exact reasons for this particular increase have not been detailed in the reports. The decision has raised concerns among consumers, particularly given the overall economic climate.
Additionally, the government continues to impose substantial duties and taxes on fuel, with petrol being taxed at Rs114 per litre and diesel at Rs100 per litre. The Petroleum Division provided a notification regarding these changes, confirming their immediate effect starting Friday, August 14.
Historically, HSD prices had peaked at Rs520.3, before this recent adjustment. The changes contribute to the ongoing fluctuations in fuel prices that have affected many consumers in Pakistan. Reports indicate that the petrol and diesel prices have been closely monitored given their importance to everyday economic activities.