Pakistan welcomes 2025 with petrol, diesel price hike
text_fields
Islamabad: The Pakistan government has announced an increase in petrol and diesel prices, with the changes coming into effect as of January 1, media reports confirmed.
A notification issued late on December 31 detailed the adjustments. Petrol prices have risen by 56 paise per litre, setting the new rate at Rs 252.66 per litre, according to ARY News. High-speed diesel prices have also been raised by Rs 2.96 per litre, now priced at Rs 258.34 per litre.
These price hikes are part of regular adjustments influenced by international market trends and domestic economic factors.
On December 15, the government announced previous changes to fuel prices, maintaining petrol rates at Rs 252.10 per litre while reducing high-speed diesel prices by Rs 3.05 per litre to Rs 255.38 per litre. Additionally, kerosene oil prices had been lowered by Rs 3.32 per litre to Rs 161.66 per litre, and light diesel oil prices saw a reduction of Rs 2.78 per litre, bringing the rate to Rs 148.95 per litre.
Despite these adjustments, the government’s inability to lower the petroleum levy due to International Monetary Fund (IMF) program restrictions has resulted in significant price hikes over recent months.
Since October 16, petrol prices have increased by Rs 5.07 per litre, while high-speed diesel prices have surged by Rs 12.14 per litre. Sources attribute the inability to curb these hikes to the IMF restrictions, which have constrained the government’s flexibility to adjust the levy.
The Finance Ministry issued the latest notification regarding the new prices, which took effect from midnight on New Year’s Eve.
With IANS inputs