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Record-breaking Price Hike: Petrol and Diesel Rates Surge Dramatically

The government has implemented a further hike in petroleum product prices, resulting in a surge of 19 rupees 95 paisas per liter for petrol, raising its new price to 272 rupees 95 paisas.
by TNN Editor - 01 Aug, 2023 1586
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The government has implemented a further hike in petroleum product prices, resulting in a surge of 19 rupees 95 paisas per liter for petrol, raising its new price to 272 rupees 95 paisas. Finance Minister Ishaq Dar made this announcement during a press conference.

Furthermore, high-speed diesel prices have also been increased by 19 rupees 90 paisas, bringing the new price to 273 rupees 40 paise. The finance minister stated that the price adjustments will take immediate effect.

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Attributing the increase to the rising international oil market rates, the finance minister mentioned consultations with Ogra (Oil and Gas Regulatory Authority) regarding the price adjustments.

He emphasized that the decision was made in the best interest of the nation. However, the Prime Minister emphasized the need to consider the welfare of the people and explore better alternatives.