Islamabad, February 1: The Pakistan government has increased petrol and diesel prices for the next fortnight, with diesel seeing a significant hike of PKR 7, as reported by ARY News.
According to an official notification reported by ARY News, petrol prices in Pakistan have been increased by PKR 1, bringing the new rate to PKR 257.13 per litre. Meanwhile, diesel prices have surged by PKR 7 per litre, reaching PKR 267.95.
Notably, the Pakistan government had previously raised petroleum prices for the fortnight on January 1. At that time, the price of high-speed diesel was increased by PKR 2.96 per litre, while petrol saw a marginal hike of 56 paisas per litre, as per ARY News.
Following the January 1 revision, the updated prices for petrol and diesel stood at PKR 252.66 per litre and PKR 258.34 per litre, respectively.
ARY News further reported that the government has failed to reduce the petroleum levy, which has been a key factor in the rising fuel costs. Over the past month and a half, petroleum prices have surged by PKR 12.14 per litre.
In November last year, the central government faced severe criticism from opposition parties over fuel price hikes, with concerns that it would add to the financial burden of inflation-hit citizens, according to Geo News.
Leading opposition parties, including former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Jamaat-e-Islami (JI), voiced strong discontent.
Jamaat-e-Islami Emir Hafiz Naeem-ur-Rehman condemned the price hike, calling it “shameful” and criticizing the government’s failure to provide relief to the public and industrial sector. He also pointed out that despite a decline in global oil prices, Pakistan continues to witness rising fuel costs.