The government has increased the prices of all petroleum products, with prices of both petrol and diesel hitting an all-time high.In a press release issued late on Wednesday, the Ministry of Finance said that the increase in prices is due to the devaluation of the Pakistani Rupee.
After the hike, the new price of petrol will be Rs. 272 per liter, up by Rs. 22.20 per liter. Similarly, the price of high-speed diesel will now be Rs. 280 per liter, up by Rs. 17.20 per liter. The new prices will be effective from February 16.
The price of kerosene has also been raised by Rs. 12.90 per liter and the price will now be Rs. 202.73 per liter. The price of light diesel oil has seen an increase of Rs. 9.68 and the price will now be Rs. 196.68 per liter.
Last month, just days before the scheduled fortnightly review of petroleum prices, the government announced an immediate increase in prices of petrol and diesel by Rs. 35 per liter.