Prices of petrol and High Speed Diesel increased heavily by Government of Pakistan

Recently Pakistan Muslim League – Nawaz (PML-N) which is in government right now, seems to be punishing people for giving them heavy mandate. They have recently increased the prices of Electricity very much heavily along with price hike in petroleum prices.

petrol prices hike pakistan

Price of petrol have been increased by Rs. 4.12, which would now set new per liter price at Rs 113.25 from the previous Rs. 109.13. Similarly price of high speed diesel have been increased from Rs. 112.26 to 116.95 with increase of whooping Rs. 4.69 per liter. Price of High Octane Blending Component (HOBC) have also been increased by Rs. 5.57 to 143.90 per liter.

Not only this, the price of kerosene oil have been also increased, this is usually used in rural areas of Pakistan to cook food and keep warm. People of rural areas does not have other options and this oil is already expensive for them but government have hit them as well with increase of Rs 2.81 setting up new price above Rs. 100 mark which exactly is now 101.24.

Higher fuel prices directly impact people of Pakistan. As fuel prices hike directly increase the transportation costs of everything which in turn increases the cost of living. In country like Pakistan where major population group is in low income or even below poverty lines, these higher petroleum prices are not good at all. Government is even earning from these prices as its imposing petroleum levy (a tax) on all products from Rs. 6 to Rs. 17 per liter. On top of this levy government is also imposing 17% sales tax on each liter of all petroleum prices.

If PML-N led government want, they could bring down the prices of all petroleum products by at least Rs. 23 and above by just removing the extra taxes.

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