Islamabad, August 20, 2023 – Pakistan has announced its latest petroleum prices, effective from August 20, 2023, with these rates expected to remain in place until the end of the month, unless revised before that time.
In a significant adjustment, the price of petrol has surged by Rs17.50 per liter, soaring to Rs290.45 per liter from the previous rate of Rs272.95 per liter. Concurrently, the cost of high-speed diesel (HSD) has jumped by Rs20 per liter, reaching Rs293.40, up from its prior price of Rs273.40 per liter.
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The finance ministry, in a recently issued statement, attributed this price increase to the rising global prices of petroleum products over the past two weeks. Consequently, domestic prices have been realigned to mirror the international trend.
This development closely follows a substantial hike in petroleum product prices enacted by the previous government on July 31, 2023.
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As the national assembly approaches dissolution, the responsibility of guiding the nation through these challenging economic times now rests on the shoulders of Anwaar-ul-Haq Kakar, the current caretaker prime minister.
The recent surge in petroleum prices has triggered widespread concern, particularly among those already grappling with the consequences of escalating inflation. The price adjustment is expected to exert additional pressure on the cost of transportation, essential commodities, and services, impacting the daily lives of citizens across various socio-economic strata.
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As the country confronts these testing circumstances, the role of the caretaker government becomes increasingly pivotal in steering Pakistan through these economic challenges. The public is closely monitoring the measures that will be implemented to alleviate the impact of these price hikes and provide relief to the masses.
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