ISLAMABAD: Federal government on Monday boosted price of gasoline by 6.72 rupees per liter, while the maximum speed diesel fuel (HSD) at 0.51 rupees per liter due to “fluctuations in in international market and exchange rate variations.”
AT new prices will be included in effect from midnight today, according to a notice issued by the Treasury Department. FROM latest announcement, price of gasoline was increased from Rs 227.19 to Rs 233.91 per litre.
HSD will now available priced at Rs 244.44. that was earlier available at a price of 244.95 rubles per liter. Kerosene oil after a little decrease of 1.67 rupees will be available at a price of 199.40 rupees per liter from 201.07 rupees.
light diesel fuel price was also decreased by 0.43 rubles and will now available at a price of 191.75 rupees per liter compared to the previous price of 191.32 rupees.
The Ministry of Finance stated in statement that government decided to revise existing oil prices after fluctuations in global oil prices and exchange rate variation. it added what new Prices of petroleum products come into force on August 16, 2022 (Tuesday).
Sources have previously said prices of local oil products, most likely, decrease on up to Rs 15 per liter as crude oil prices declined. declined in in global market.
Mostly used HSD. in agricultural and transport sectors. Therefore, any increase in its prices will have a direct inflationary impact on life of masses. farmers already facing high prices of electricity and HSD can cause further hike in in cost of does businessexperts said.
They are added that an additional increase in price of diesel will add suffering of in people and farmers in branches of agriculture. Because of the trip in price of diesel, fare may also go up as a result in higher Prices of products in country.
Gasoline used in motorcycles and cars. Its alternative is compressed natural gas (CNG). CNG outlets in Punjab was operating on imported liquefied natural gas (LNG) and cost of it’s gone up diversity due to the Russian-Ukrainian conflict.
