Petrol price jumps to Rs272 per litre in Pakistan

Canada Global (Web News) Kerosene and light diesel oil rates were also raised by Rs12.90 and Rs9.68, respectively, according to a press release from the Finance Division.

While HSD will now cost Rs280 per litre, the new price for petrol is Rs272. While LDO would cost Rs196.68 per litre, kerosene will be available for Rs202.73.

The press release stated that the price increase was brought on by the weakening of the Pakistani rupee, which was used to determine the current pricing period. The increases would take effect on February 16, it was added.

The country’s reserves have been depleted to a critically low level of $2.9bn, which experts think is adequate for only 16 or 17 days of imports. The administration is in a race against time to enact additional tax measures and strike an agreement with the IMF.

Not only would there be a disbursement of $1.2 billion as a result of the agreement with the IMF on the conclusion of the ninth review of a $7 billion loan programme, but it would also enable inflows from friendly nations.

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