Giving great relief to the general public, the Government of Pakistan has reduced the prices of petrol and diesel by ₹5 per liter. The new prices have come into effect from today i.e. May 16. After this cut, the price of petrol in Pakistan has now come down to ₹409.78 per liter and the price of high-speed diesel (HSD) has come down to ₹409.58 per liter. This reduction is expected to provide some support to the budget of the middle and lower-middle class after the continuously rising prices in recent times, as petrol directly impacts motorcycles, rickshaws and small vehicles. Prices are being decided every week on Friday night. The Government of Pakistan has been reviewing petroleum prices every week on Friday night for some time. In fact, the fuel crisis in the country has deepened since the US-Israel and Iran war (which is currently at a standstill) against Iran started on February 28. The prices were increased by ₹ 15 only last week. Even though the government has given a relief of ₹ 5, but just a week ago the government had increased the prices of petrol by ₹ 14.92 and diesel by ₹ 15 per liter. Soon after the war started on February 28, the government made petrol and diesel costlier by ₹55 per liter on March 6. On April 2, the prices of petrol were increased by 43% and high-speed diesel by 55%. Petrol and diesel became costlier by ₹ 3 each in India. On May 15, the prices of petrol and diesel in India had increased by ₹ 3 each per liter. Due to this, petrol in Delhi reached Rs 97.77 per liter and diesel reached Rs 90.67 per liter. At the same time, companies also made CNG costlier by ₹ 2 per kg in major cities. Now one has to spend ₹ 79.09 for one kg CNG in Delhi. Why did the prices of petrol and diesel increase in major cities of the country? The main reason for this increase is the fluctuations in crude oil prices in the international market. Before the start of the war between Iran and America, the price of crude oil was $ 70, which has now increased to beyond $ 100 per barrel. Oil companies were under pressure due to rising crude prices. Therefore, companies have taken this step to compensate for the losses. If the prices of crude oil continue to rise for a long time, the prices of petrol and diesel may increase further.
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Petrol-diesel became cheaper by ₹ 5 in Pakistan: Petrol was available at ₹ 409.78 and high-speed diesel at ₹ 409.58 per liter, in India it became costlier by ₹ 3 yesterday.
