Pakistan increases price of petrol by PKR 5, high-speed diesel by PKR 7.32

by IANS |

Islamabad, Feb 16 (IANS) The Pakistan government has hiked the prices of petrol and high-speed diesel by Pakistani Rupees (PKR) 5 and PKR 7.32 per litre, respectively, till the end of February, local media reported on Monday.

In the late-night announcement on Sunday, the petroleum division said that the price of petrol and high-speed diesel has been increased after movements in international markets and recommendations from the Oil and Gas Regulatory Authority (Ogra), Pakistan's leading daily, Dawn, reported.

As per the announcement, the ex-depot price of high-speed diesel has been raised by PKR 7.32 per litre to PKR 275.70 per litre for the current fortnight from PKR 268.38 per litre. The price is considered inflationary as HSD is majorly is used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers, which would lead to an increase in prices of vegetables and other food items.

The ex-depot price of petrol was raised from PKR 253.17 per litre to PKR 258.17 per litre. Rise in petrol price directly affects the budgets of the middle and lower-middle classes as it is primarily used in private transport, small vehicles, rickshaws and two-wheelers, Dawn reported.

Earlier in January, an increase in prices of flour in Shangla and other upper districts of Pakistan's Khyber Pakhtunkhwa has sparked concerns among residents, who have blamed weak government oversight, hoarding, and profiteering for the surge, local media reported.

The price of a 20-kilogram bag of flour has increased to (Pakistani) Rs 2,850 in Shangla and nearby areas, while a 40-kilogram bag is selling for up to Rs 5,700. A 50-kilogram bag is reportedly available at around Rs 7,000, making essential food supplies unaffordable for many low and middle-class homes, Pakistani daily The Nation reported.

Residents stated that the increasing price of flour has increased financial strain already caused by inflation and urged the provincial government and district administration to take immediate measures to implement price controls on essential commodities.