Pakistan’s government has announced an increase in petrol and diesel prices by Pakistan rupees (PKR) 35 per litre. Pakistan Finance Minister Ishaq Dar made the announcement regarding the increase in fuel prices and it has come into effect from 11 am on January 29. He said that the price of kerosene oil and light diesel oil was increased by PKR 18 per lire. Ishaq Dar said that the Pakistani rupee witnessed devaluation last week and they are witnessing an 11 per cent rise in the price of petroleum products in the international market. He said that petrol prices had not increased since October.
According to the news source, Ishaq Dar expressed the hope that the revelation of higher pricing will put an end to rumours regarding a lack of petrol supply. On social media, he claimed, there were rumours that the price of petrol and diesel will rise by Rs 50. Dar said, “As a result, we have reports of manufactured shortages on the market.” Rumours of a significant hike in gasoline prices caused huge lines at gas stations in various regions of Pakistan before Dar’s statement.
According to reports shared on social media, the price of gasoline and diesel was anticipated to rise on February 1 by between Rs. 45 and Rs. 80. Hassan, who was waiting in line at a gas station, was cited by Dawn as saying, “We saw a post on social media that oil prices will go up owing to the spike in the dollar’s value and worldwide petroleum rates.”
Petrol was only supplied at 20% of the petrol outlets in Gujranwala. According to a report from Geo News published by Dawn, gasoline shortages have been observed in Pakistan’s Rahim Yar Khan, Bahawalpur, Sialkot, and Faisalabad districts.
