ISLAMABAD: The prices of petrol and diesel hit a record high on Tuesday, as the newly installed caretaker government raised fuel prices by up to Rs20 per litre, another second massive hike in a fortnight that is likely to further stoke inflation, which had cooled over the past two months.
The new petrol price will be Rs290.45 per litre from today (Wednesday) after an increase of Rs17.50 per litre, the finance division said in a notification. High-speed diesel would be even more expensive, with its price going up by Rs20 to Rs293.40 per litre.
The Ministry of Finance announced the revised prices late in the night after clearance from caretaker Prime Minister Anwaarul Haq Kakar, who was sworn in on Monday.
The finance division said prices of the two key fuels were raised because petroleum prices in the international market had increased during the last fortnight.
However, the government notification did not announce any change in the prices of kerosene and light diesel oil.
The latest jump in petroleum prices came on the heels of a similar hikes by the outgoing government on Aug 1. This means that fuel prices have jumped by nearly Rs40 per litre in just 15 days.
The price of high-speed diesel had previously peaked at Rs293 per litre in March this year. Its price is considered highly inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the cost of vegetables and other eatables.
Similarly, petrol prices had earlier peaked at Rs282 per litre in mid-April, but later declined to as low as Rs253. The product is mostly used in private transport, small vehicles, rickshaws and two-wheelers and directly affects the budget of middle- and lower-middle class citizens.
According to the latest data, inflation measured by the Consumer Price Index (CPI) basket of goods and services was 28.3 per cent for July — a little respite compared to 29.4pc in June and record 38pc in May but still far higher, particularly considering the high-base effect.
Finance ministry data shows the price of petrol (i.e. Rs290.45 per litre) now stands 24pc higher than what it was exactly a year ago (Rs233.91 in mid-August), and 35pc higher than its lowest point over the past year (Rs214.8 in mid-December).
At present, the general sales tax on all petroleum products is zero, but the government is charging a petroleum development levy of Rs55 per litre on petrol and Rs50 per litre each on HSD and high-octane blending component (HOBC) and 95 RON (research octane number) fuel.
The government is also charging about Rs18-22 per litre customs duty on petrol and high-speed diesel.
Petrol and high-speed diesel are major revenue spinners for the government, with their monthly sales touching about 700,000 to 800,000 tonnes compared to just 10,000 tonnes of monthly demand for kerosene.
The community cherishes iconic lighthouses, narrating their tales of guiding ships safely through treacherous waters.
Adorned with iconic Disney characters, these blankets evoke cherished memories and spark joy with every glance.
As technology continues to advance, inverters will play a pivotal role in shaping the way we generate, consume, and store energy, ultimately contributing to a greener and more sustainable future.
Thank you again for all the knowledge you distribute,Good post. I was very interested in the article, it’s quite inspiring I should admit. I like visiting you site since I always come across interesting articles like this one.Great Job, I greatly appreciate that.Do Keep sharing! Regards,
I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. Thanks…
very interesting post.this is my first time visit here.i found so mmany interesting stuff in your blog especially its discussion..thanks for the post!
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
Thank you for the update, very nice site..
Thank you for the update, very nice site..
Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article.
This is such a great resource that you are providing and you give it away for free. I love seeing websites that understand the value of providing a quality resource for free. It is the old what goes around comes around routine.
Nice Informative Blog having nice sharing..
Great! It sounds good. Thanks for sharing..
Thank you very much for the sharing! COOL..
Thank you again for all the knowledge you distribute,Good post. I was very interested in the article, it’s quite inspiring I should admit. I like visiting you site since I always come across interesting articles like this one.Great Job, I greatly appreciate that.Do Keep sharing! Regards,
Nice Informative Blog having nice sharing..
I found your this post while searching for some related information on blog search…Its a good post..keep posting and update the information.
Thanks for the valuable information and insights you have so provided here…
Thanks for the post and great tips..even I also think that hard work is the most important aspect of getting success..
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great! It sounds good. Thanks for sharing..
Thanks for the post and great tips..even I also think that hard work is the most important aspect of getting success..
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Hey what a brilliant post I have come across and believe me I have been searching out for this similar kind of post for past a week and hardly came across this. Thank you very much and will look for more postings from you.
It was wondering if I could use this write-up on my other website, I will link it back to your website though.Great Thanks.
Hey what a brilliant post I have come across and believe me I have been searching out for this similar kind of post for past a week and hardly came across this. Thank you very much and will look for more postings from you.
Yes i am totally agreed with this article and i just want say that this article is very nice and very informative article.I will make sure to be reading your blog more. You made a good point but I can’t help but wonder, what about the other s ide? !!!!!!THANKS!!!!!!
thank you for a great post.
What a fantabulous post this has been. Never seen this kind of useful post. I am grateful to you and expect more number of posts like these. Thank you very much.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great! It sounds good. Thanks for sharing..
Thanks for your information, it was really very helpfull..
Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
very interesting keep posting.
I am hoping the same best effort from you in the future as well. In fact your creative writing skills has inspired me.
i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future..
This is such a great resource that you are providing and you give it away for free.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
I am hoping the same best effort from you in the future as well. In fact your creative writing skills has inspired me.
thanks for this usefull article, waiting for this article like this again.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article.
I really appreciate the kind of topics you post here. Thanks for sharing us a great information that is actually helpful. Good day!
I really appreciate the kind of topics you post here. Thanks for sharing us a great information that is actually helpful. Good day!
thanks this is good blog.
Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
thanks for this usefull article, waiting for this article like this again.
Please share more like that.
Thanks for the post and great tips..even I also think that hard work is the most important aspect of getting success..
Most of the time I don’t make comments on websites, but I’d like to say that this article really forced me to do so. Really nice post!
This is such a great resource that you are providing and you give it away for free. I love seeing websites that understand the value of providing a quality resource for free. It is the old what goes around comes around routine.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
thanks this is good blog.
thanks this is good blog.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Love to read it,Waiting For More new Update and I Already Read your Recent Post its Great Thanks.
Thank you for taking the time to publish this information very useful!
I found your this post while searching for some related information on blog search…Its a good post..keep posting and update the information.
Yes i am totally agreed with this article and i just want say that this article is very nice and very informative article.I will make sure to be reading your blog more. You made a good point but I can’t help but wonder, what about the other side? !!!!!!THANKS!!!!!!
Your website is really cool and this is a great inspiring article. Thank you so much.
I appreciated your work very thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Most of the time I don’t make comments on websites, but I’d like to say that this article really forced me to do so. Really nice post!
I really appreciate the kind of topics you post here. Thanks for sharing us a great information that is actually helpful. Good day!
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
It was wondering if I could use this write-up on my other website, I will link it back to your website though.Great Thanks.
Thank you for the update, very nice site..
Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job.
I’ve been searching for some decent stuff on the subject and haven’t had any luck up until this point, You just got a new biggest fan!..
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
The petrol prices are rediculous these days. I have found that if you use a discount card like JackListens it helps though, but usually those are limited to one specific station. It’s crazy!
very interesting keep posting.
thank you for a great post.
I found your this post while searching for some related information on blog search…Its a good post..keep posting and update the infor mation.
I found your this post while searching for some related information on blog search…Its a good post..keep posting and update the infor mation.
Great article Lot’s of information to Read…Great Man Keep Posting and update to People..Thanks
Thanks for sharing the info, keep up the good work going…. I really enjoyed exploring your site. good resource…
Thanks for a wonderful share. Your article has proved your hard work and experience you have got in this field. Brilliant .i love it reading.
thanks for this usefull article, waiting for this article like this again.
Thanks for your information, it was really very helpfull..
Thanks for the post and great tips..even I also think that hard work is the most important aspect of getting success..
This is such a great resource that you are providing and you give it away for free. I love seeing websites that understand the value of providing a quality resource for free. It is the old what goes around comes around routine.
i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future..
Thanks for a wonderful share. Your article has proved your hard work and experience you have got in this field. Brilliant .i love it reading.
Your blog provided us with valuable information to work with. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging,
Thanks For sharing this Superb article.I use this Article to show my assignment in college.it is useful For me Great Work.
Thank you very much for this useful article. I like it.
I am hoping the same best effort from you in the future as well. In fact your creative writing skills has inspired me.
Love to read it,Waiting For More new Update and I Already Read your Recent Post its Great Thanks.
Thanks for sharing the info, keep up the good work going…. I really enjoyed exploring your site. good resource…
Thanks for a wonderful share. Your article has proved your hard work and experience you have got in this field. Brilliant .i love it reading.