Following the release of a tax-heavy “mini-budget,” the federal government has raised the price of gasoline by Rs. 22 to Rs. 272 per Liter in a bid to entice the International Monetary Fund (IMF) to release the critical loan tranche.
The Finance Division said late yesterday night that the new pricing would go into effect on February 16.
Following the hike, the new price of gasoline is Rs272 per Liter.
After a Rs17.20 rate hike, high-speed diesel now costs Rs280 per Liter, while kerosene oil now costs Rs202.73 after a Rs12.90 rate increase.
After a Rs9.68 rise, light diesel is currently available for Rs196.68.
Petroleum goods have become more expensive as the rupee’s value has fallen in proportion to the dollar.