The government raised the price of gasoline by Rs8.03 per liter early Friday (5th November), a day after Prime Minister Imran Khan warned that the price of petroleum goods will rise.
According to a notification from the finance ministry, the new price of petrol is Rs145.82 per liter after the hike.
As per the notification, the hike in the price of petrol will go up on November 5.
Similarly, the cost of high-speed diesel has increased by Rs8.14 per liter, to Rs142.62 per liter.
After an increase of Rs5.72, the price of light diesel oil has been set at Rs114.07 per liter, while the price of kerosene oil has been raised by Rs6.27 to Rs116.53 per liter.
| Product | Existing price (16-10-2021) | New price from (5-11-2021) | Increase |
| Petrol | Rs 137.79 | Rs 145.82 | Rs 8.03 |
| Diesel | Rs 134.48 | Rs 142.62 | Rs 8.14 |
| Kerosene oil | Rs 110.26 | Rs 116.53 | Rs 6.27 |
| Light diesel oil | Rs 108.35 | Rs 114.07 | Rs 5.72 |
As per the notification, “On November 1, 2021, the Prime Minister had not agreed with the proposals worked out by OGRA and Finance Division and directed to maintain the prices as notified on October 16, 2021.”
The government “has absorbed the bulk of pressure after making modifications in the Sales Tax and Petroleum Levy.” It further states that the prices would have been far higher than they are now if not for the revisions.
According to the ministry, “Maintaining the 16 October 2021 petroleum prices had some underlying concerns for example cash flow issues due to the short recovery of the cost.”
According to the notification, the government has already provided significant assistance to consumers in the previously announced fuel prices.
