Petrol Prices Hikes Up by Rs6.72 per liter – Valid from 16 August 2022

16 August 2022: The federal government has revised the existing petrol prices by Rs6.72/liter, effective from 16 August 2022. In the line with new changes, the new petrol price will be Rs233.91/liter.

The government has announced another increase in petroleum prices effective from Tuesday, 16 August 2022. The petrol price has increased by Rs6.72 per liter, diesel price has slightly reduced by 51 paisas per liter and kerosene price is decreased by Rs1.67 per liter.

As per the recent rate list released by the federal government, the new petrol price is Rs233.91/liter, the new diesel price is Rs244.44/liter, and the new kerosene oil price is Rs199.40/liter. The rate of light diesel has also slightly increased by 43 paisas however the new price is Rs191.75.

In a press release issued by the finance division, it is stated that the petrol price is increased amid the fluctuation of petroleum prices in the international market. Before this announcement, the nation was hoping a decrease in petroleum prices despite the wake of failing oil prices in the international market and the sharp recovery of Pakistani rupee against the US dollar.

It is important to note that the new government of Prime Minister Shahbaz Sharif has increased Petrol prices by Rs.84 as a whole since came into power. Finance Minister of Pakistan Miftah Ismail stated that the government cannot afford to subsidize petroleum products.