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Pakistan: Petrol prices on fire, at Rs 290.45 per litre after a huge hike

Islamabad: Pakistan’s new caretaker government issued a notification on Tuesday night to increase the prices of petrol and high-speed diesel with effect from Wednesday. After this increase, the prices of gasoline and high-speed diesel have reached a record level. The government has increased their prices by up to Rs 20 per litre.

According to the notification of the Finance Department, after the increase in the price of petrol by Rs 17.50 per litre, its price has become Rs 290.45 per litre as of Wednesday. High-speed diesel became even costlier and is now available at Rs 293.40 per litre after a Rs 20 hike in its price. However, there has been no change in the prices of kerosene and light diesel.

The Finance Ministry announced the revised prices late on Tuesday after the approval of caretaker Prime Minister Anwarul Haq Kakar, who was sworn in on Monday itself, according to the leading newspaper Dawn. According to the Finance Division, the rates of the two major fuels increased because of an increase in petroleum prices in the international market during the last fortnight.

The special thing is that this hike has been done for the second time in a fortnight. The country’s previous Shahbaz Sharif government had increased the prices of petro-diesel on August 1, and now, with the coming of the caretaker government, the prices have increased. That is, the prices of petrol and diesel have increased by about Rs 40 per litre in just 15 days. Inflation is likely to increase further due to this move by the government.

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