The government has increased kerosene prices in Pakistan, raising the rate by Rs70.73 per litre.
According to an official notification, the new price of kerosene has been set at Rs428.74 per litre, effective immediately, compared to the previous rate of Rs358.01 per litre.
In contrast, the Petroleum Division confirmed that prices of other petroleum products will remain unchanged. Petrol will continue to be sold at Rs321.17 per litre, while high-speed diesel will stay at Rs335.86 per litre.
The division stated that despite rising global oil prices, the government has decided to maintain existing rates for petrol and diesel by covering the price difference for oil marketing companies.
Under the revised arrangement, the government will bear Rs176.41 per litre on diesel and Rs77.98 per litre on petrol to keep consumer prices stable.
Yesterday, the prime minister has also rejected the proposal to increase petroleum prices.
Prime Minister Shehbaz Sharif announced that petrol and diesel prices will remain unchanged for the next one week.
He said the world is currently facing an extraordinary situation. The ongoing war in the region has shaken the global economy and stability.
Attacks on energy facilities in friendly countries have further worsened the crisis.
The prime minister warned that the situation could become more serious, as global oil prices have risen sharply.
He said oil that was priced at 72 dollars per barrel a few weeks ago has now reached 158 dollars per barrel.
PM Shehbaz said that the increase of 55 rupees per litre in oil prices earlier in March had already put a heavy burden on the public. He added that he was given a proposal to increase petrol by 50 rupees per litre and diesel by 74 rupees per litre, but he rejected the proposal.
He said that in such circumstances, further increase in fuel prices would severely affect the lives of ordinary people.
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