Fuel prices go up in Pakistan

The federal government on Tuesday approved a Rs2.13/litre hike in petrol and an increase of Rs1.79/litre in diesel prices.

A notification issued by the finance ministry also said that the price of kerosene oil is being increased by Rs1.89/litre and light diesel prices will go up by Rs 2.03per litre.

The new prices of the petroleum products coming into effect from 16th June, 2021, for the next fortnight, are as follows: MS (Petrol) 108.56 110.69 +2.13 High Speed Diesel (HSD) 110.76 112.55 +1.79 Kerosene (SKO) 80.00 81.89 +1.89 Light Diesel Oil 77.65 79.68 +2.03.

This comes after Finance Minister Shaukat Tarin had indicated that the prices of petroleum products will be increased in the coming month as talks with the International Monetary Fund (IMF) continue over the stabilisation of revenue collection.

Talking on ‘Naya Pakistan’ programme, he said the petroleum levy would be increased up to Rs600 billion in the coming fiscal year so the levy will have to be jacked up in the range of Rs20 to Rs25 per litre, while currently Rs5 per litre levy was being charged.