Panic in PAK… Government again bursts ‘inflation bomb’, petrol is Rs 272 per liter and this is the new price of diesel

New Delhi: Pakistan, which has been struggling with economic crisis for a long time, may have got huge loans from IMF, World Bank and many other places, but the condition of the public seems to be miserable. On top of that, the government is increasing the burden of inflation on it. Once again, the Shahbaz Sharif government has burst the inflation bomb on the people and has increased the prices of petrol and high speed diesel in the country, which has come into effect from Wednesday.

Petrol-diesel prices reached here
If you look at the notification issued by the Finance Department of Pakistan late on Tuesday night, the government has increased the price of petrol by Rs 5.36 per liter, while the price of high speed diesel has been increased by 11.37 Pakistani rupees per liter. After this, the price of petrol in the country has increased from Rs 266.79 to Rs 272.15 per liter, while the price of high-speed diesel has jumped from Rs 272.98 per liter to Rs 284.35 per liter.

New prices came into effect from Wednesday
After this amendment in the prices of petrol and diesel by the Government of Pakistan, New Petrol-Diesel Rates have come into effect with immediate effect from today, July 16, for the next 15 days. This huge increase in fuel prices has further increased the burden on motorists and transport operators in Pakistan. Giving the reason behind the price hike, the government has said that the increase in fuel prices is a result of fluctuations in the oil prices of the international market.

Prices were also increased in early July
Petrol and diesel prices are continuously increasing in Pakistan and earlier in the beginning of July, on 1st July, the federal government had increased the prices of petrol and diesel significantly for the first fortnight of the month and the reason behind this was the instability in crude oil prices in the global market amid the 12-day Iran-Israel conflict.

Big impact of crude oil prices
It is worth noting that Pakistan is included in the list of major oil importing countries and imports about 85 percent of its petroleum needs and in the recent past, the tense situation in the Middle East has directly affected its supply. Petrol and diesel prices in the country are reviewed every fortnight and it is revised on the basis of changes in international crude oil prices and local currency exchange rate.