Petrol Prices shoot up and Sets a New Record

Late on Wednesday, in response to demands from the International Monetary Fund, the government increased the price of petroleum goods by an enormous 8.9 percent.

Petrol prices shoots up and sets a new record
Petrol prices shoots up and sets a new record

Petrol prices were raised by the government by Rs22.20 per liter on Wednesday, bringing the price to Rs272 as of February 16. High-speed diesel was also announced to have its price raised, this time by Rs17.20 per liter, to Rs280.

After the hike, the price of petrol is Rs272, High-speed diesel Rs280, Kerosene oil Rs202.73, and light diesel oil Rs196 per liter.

The Finance Division sent out a message late at night stating that the revised rates will go into effect on February 16 as stated in the notification. Petrol, which is used in small passenger vehicles and in residential generators, witnessed the greatest petrol price increase, jumping from Rs249.80 to a record high of Rs272 per liter. This is an increase of around Rs 22.20 per liter.
Prices of high-speed diesel (HSD) also increased by 6.54%, reaching a new all-time high of Rs280 a liter. This represents a rise of Rs17.20.

Petrol prices have divided people into mixed feelings which they expressed on Twitter.

At this point in time, most of the populace is taken aback and bewildered. They will not be able to recover from this traumatic experience without the alternative of driving a car.

The Pakistani population is concerned and responding to the situation in a variety of ways, including some heated debates on social media and some humorous memes and videos. People are discussing the recent price increases, both seriously and humorously. People are left with nothing but disappointments.

Petrol prices must not be raised more than this.LPG Association Chairman Irfan Khokhar termed the price hike โ€œunbearableโ€ and advised all district presidents of LPG associations to stage protests.

He said that instead of giving relief the government had imposed more taxes while billions of rupees in subsidy were being offered in the imported LNG.

Written by Palwasha Waheed

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