ISLAMABAD – Pakistan's interim government has again jacked up the prices of petroleum products up to Rs26.02 per litre, fuelling anger among the public who are already battered by inflated electricity bills and rising prices of basic commodities.
The petrol has been hiked by Rs26.02 per litre while high speed diesel (HSD) by Rs17.34 per litre, the Finance Divison said in a statement late Thursday.
Earlier this month, the Economic Coordination Committee (ECC) chaired by Caretaker Finance Minister Shamshad Akhtar approved the increase in the petrol and diesel margin by Rs1.87 per litre for oil marketing companies.
It was reported that the government has allowed an increase in sale margin but after last month’s massive surge, the Kakar-led government this time decided to increase prices marginally: Rs0.41 per litre will be increased for dealers for the second half of the current month.
Last month, the interim government jacked up the price of petrol by Rs14.9 per litre, and the price of petrol touched a record Rs305.36 per litre while the price of high-speed diesel (HSD) has been increased by Rs18.44.
The government is charging a record petroleum levy on petrol and on High-Speed Diesel.
It comes in another shock for inflation-weary people who are facing the brunt of higher food prices as fuel prices directly impact transport and agriculture sectors, and any spike will further burden masses.
Now, as of September 1, the current rate of petrol stands at Rs331.38 while the high-speed diesel price at Rs329.18.
پیٹرول کی قیمت میں 26 روپے فی لیٹر اضافہ ۔ نئی قیمت 331 روپے ۔ pic.twitter.com/c8vEz5447G— Rizwan Ghilzai (Student of Arshad Sharif) (@RizwanGhilzai) September 15, 2023
Pakistani rupee remains largely stable against the US dollar, and other currencies in the open market on Saturday.
On Saturday, the US dollar was being quoted at 283.4 for buying and 285.95 for selling.
Euro comes down to 307 for buying and 310 for selling. British Pound rate remains unchanged at 358.5 for buying, and 362 for selling.
UAE Dirham AED witnessed slight drop and new rate stands at 77.2 whereas the Saudi Riyal remained stable at 76.
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||358.5||362|
|Hong Kong Dollar||HKD||36.37||36.72|
|New Zealand Dollar||NZD||175.33||177.33|
Gold prices witnessed negative trend in local markets in line with the trend in the international market.
On Saturday, the price of a single tola of 24-karat gold stands at Rs217,600, and 10 grams of 24k gold costs Rs186,560.
Single tola of 22 Karat Gold price costs Rs199,465, 21 karat rate per tola costs Rs190, 400 and 18k gold rate is Rs163,200.00 for each tola.
In the global market, gold prices hovers around $2,004 per ounce, after drop of $23.35 on Saturday.
|Lahore||PKR 217,600||PKR 2,530|
|Karachi||PKR 217,600||PKR 2,530|
|Islamabad||PKR 217,600||PKR 2,530|
|Peshawar||PKR 217,600||PKR 2,530|
|Quetta||PKR 217,600||PKR 2,530|
|Sialkot||PKR 217,600||PKR 2,530|
|Attock||PKR 217,600||PKR 2,530|
|Gujranwala||PKR 217,600||PKR 2,530|
|Jehlum||PKR 217,600||PKR 2,530|
|Multan||PKR 217,600||PKR 2,530|
|Bahawalpur||PKR 217,600||PKR 2,530|
|Gujrat||PKR 217,600||PKR 2,530|
|Nawabshah||PKR 217,600||PKR 2,530|
|Chakwal||PKR 217,600||PKR 2,530|
|Hyderabad||PKR 217,600||PKR 2,530|
|Nowshehra||PKR 217,600||PKR 2,530|
|Sargodha||PKR 217,600||PKR 2,530|
|Faisalabad||PKR 217,600||PKR 2,530|
|Mirpur||PKR 217,600||PKR 2,530|