The caretaker government has announced an increase in petrol and diesel prices by Rs26.5 and Rs17, respectively, reaching historic highs.
During this month alone, petrol prices rose by Rs40, and diesel increased by Rs35.
The government imposed an additional 41 rupees per liter in just one month.
Now, petrol stands at an all-time high of Rs331 per liter, while diesel is at Rs329 per liter.
This marks the first time petrol has risen by Rs26 and diesel by Rs17.
When Shahbaz Sharif assumed office on April 11, 2022, petrol was priced at Rs144.15 per liter. Under the PDM regime, it surged to Rs272.95, with diesel going from Rs118 to Rs273.
Diesel saw a 154-rupee increase, and petrol went up by Rs127 per liter during Shahbaz Sharif's tenure.
In just one month under the caretaker government, petrol prices increased by Rs58 per liter, and diesel went up by Rs56 per liter.
Economic experts cite four reasons for the petrol price hike: global market fluctuations, a stronger US dollar, increased petroleum levies, and the government's aim to reduce fuel usage to conserve foreign exchange reserves.
The rise in petroleum levies also contributes to the government's goal of preserving foreign exchange reserves.
