Aa per recent news, the federal government has increased the price of petroleum products by up to Rs12.03 per litre, bringing the price of petrol to all new high of Rs159.86 per litre. However, these prices will be effective from February 16. (today).
Petrol prices broke all the previous records by reaching Rs160 per litre.
However, the finance ministry said in a statement that petroleum product prices on the international market have risen drastically and are now at their highest level since 2014.
Despite the persistent rise in prices since the beginning of this year, Prime Minister Imran Khan deferred the last review of price increases in petroleum products until January 31, 2022. He also advised against the Oil and Gas Regulatory Authority’s summary.
