Fuel prices were increased for the third time in 20 days in Pakistan. Pakistani Finance Minister Miftah Ismail stated that the government is no longer in a position to subsidize petroleum products, and announced that fuel prices will be increased by 24.03 Pakistani Ruby, effective from tonight. Ismail stated that Pakistan couldn’t control the impact of the Russia-Ukraine war on international fuel prices. “We will be able to control the fuel prices only when these difficult times are over and the country’s relations with global financial institutions improve” Ismail said. In addition, Pakistani Petroleum Minister Musadiq Malik stated that the government had discussed in detail before announcing the last hike. “This decision was taken because we import 9 million tons of oil and 8.8 million tons of diesel every year, and if we hadn’t increased the price, the government would have suffered a loss of over Rupees 100 billion per month,” Malik said.
As of tonight in Pakistan, the gasoline liter price will be 233.89, the diesel liter price will be 263.31 and the kerosene liter price will be 211.43 Pakistani Rupees. After the news of the hike, long queues formed at the fuel stations before the increased prices came into effect.
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