Govt hikes petrol price by nearly Rs15, HSD by Rs18

The caretaker government in Pakistan has raised the price of petrol by Rs14.91 per litre and high-speed diesel by Rs18.44 per litre, bringing them to Rs305.36 per litre and Rs311.84 per litre respectively, due to currency depreciation and increasing international oil prices.

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Relevant topic timeline:

8/25/2023

PKR vs USD: Massive increase in petroleum prices expected in next fortnight review

The fall in the value of the Pakistani rupee against the US dollar is expected to cause a surge in inflation, with petrol and diesel prices projected to increase by over Rs13 per litre due to the exchange rate, potentially reaching double digits if the dollar continues to appreciate. Additionally, the rise in dollar value will also lead to further increases in electricity tariffs, making the lives of citizens more difficult.

8/29/2023

Petrol, diesel likely to cross Rs300 mark for first time in country’s history

The Oil and Gas Regulatory Authority (Ogra) is likely to recommend a hike in petroleum products prices in Pakistan due to an increase in global oil rates and depreciation of the rupee against the US dollar, with petrol expected to increase by Rs12 per litre and diesel by Rs14.83 per litre from September 1, 2023, leading to concerns of further inflation in the country.

9/1/2023

Economic crisis: Pakistan jacks up petrol, diesel prices past PKR 300-mark for first time in its history - Times of India

The recent increase in energy prices in Pakistan has led to protests over high inflation and electricity bills, with demonstrators burning utility bills, blocking highways, and attacking power company offices. The caretaker government has refused to lower energy prices without approval from the IMF, and has further increased petrol and diesel prices by over 14 Pakistani Rupees (PKR), surpassing PKR 300.

9/14/2023

Brace for Another Big Fuel Price Hike as Global Oil Rates Surge

The prices of petrol and high-speed diesel (HSD) are expected to increase by Rs16 per litre and Rs13.66 per litre, respectively, in the upcoming fortnightly review, due to rising global oil prices and depreciation of the rupee against the dollar.

9/16/2023

Pakistan Expands Nuclear Arsenal Despite Economic Crisis and 27% Inflation

The caretaker government of Pakistan has raised petrol and diesel prices to record levels, leading to a surge in inflation and impacting the prices of essential commodities, while the country continues to invest in and expand its nuclear weapons program.

9/17/2023

Inflationary Pressures Mount as Pakistan Raises Fuel Prices Again

The unprecedented increase in fuel prices in Pakistan is expected to cause a significant rise in inflation, with the Consumer Price Index projected to reach as high as 30% to 32% in September 2023.

9/18/2023

Pakistan's Exports Surge Over 22% in July-August While Imports Fall

Pakistan's exports saw a significant increase of 22.45% in the first two months of the fiscal year 2023-24, reaching Rs1.27 trillion, while imports decreased by 2.42%.

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Posted 8/31/2023, 7:17:39 PM