Here’s how much it will now cost motorcycle riders to fill up their gas tanks.
Consumers have been left reeling as petrol prices continue to rise, with the Finance Division recently announcing a raise of more than Rs6 per litre.
With prices at all-time highs, Pakistanis are feeling the pinch right away — at the gas pump. Higher fuel prices, however, are a drag on the economy in ways other than individuals having less money to spend. The rising expense of fuel, particularly gasoline, has an impact on everything that is transported.
In mid-August 2022, the average price in Pakistan for a litre of normal fuel is Rs233.91, up over 95% from the previous year. In August 2021, the price of a litre of petrol was Rs119.80.The government raised the price of petrol by Rs6.72 per litre for the next two weeks on Monday due to volatility in international petroleum costs and exchange rate fluctuations.
The move made by Prime Minister Shehbaz Sharif’s government was not only criticised by customers, but also by coalition partners.Miftah Ismail, Minister of Finance, defended the decision, claiming that the increase was justified and that no taxes were levied.
The price of petrol has been raised from Rs227.19 per litre to Rs233.91 per litre, and the price of LDO (light diesel oil) has been raised from Rs191.32 to Rs 191.75 per litre. However, the price of HSD (high speed diesel) has dropped to Rs244.44 per litre from Rs244.95 previously.
Most people in Pakistan, particularly men, travel by motorcycle, which means that this category is more sensitive to price swings than others.