ISLAMABAD: The coalition government increased the petrol and diesel prices to a record high level after Wednesday midnight.
A notification from the Finance Division stated that the new prices would be effective from Feb 16, 2023.
The government has increased the petrol price to Rs 272 after incorporating an increase of Rs 22.20 per liter. Earlier, the retail price of petrol stood at Rs 249.80/liter.
Meanwhile, the price of high-speed diesel also recorded an increase of Rs17.20 _ to a new high of Rs280 per liter from Thursday.
HSD is primarily used in heavy transport and cargo vehicles. This fuel drives the national supply chain for all products _ apart from being essential fuel for agriculture.
The new prices will come into effect from 12am tonight.
| Product | Existing prices w.e.f 29/1/2023 | New prices w.e.f 16/2/2023 | Increase |
| Petrol | 249.80 | 272 | 22.20 |
| High speel diesel | 262.80 | 280 | 17.20 |
| Kerosene | 189.83 | 202.73 | 12.90 |
| Light diesel oil | 187 | 196.86 | 9.68 |
The increase in domestic petroleum products was one of the upfront demands of the IMF attached to the resumption of the stalled loan.
The price of kerosene oil saw the third-highest increase at Rs 12.90. Its new price stood at Rs202.73 per liter.
Meanwhile, with a modest increase of Rs9.68, light diesel will now be sold for Rs196.68/liter.
The coalition government has enhanced the prices of petroleum products because of a steep dip in the value of the rupee against the dollar.
