In Pakistan, petrol and diesel prices recently went up, causing financial stress for the people.
Petrol now costs Rs26.02 more per liter, and high-speed diesel jumped by Rs17.34 per liter.
In Pakistan, price of petrol has reached an all-time high at Rs331.38 per liter, while high-speed diesel now costs Rs329.18 per liter.
Yet, if we look at neighboring South Asian countries, Pakistan's fuel prices seem better.
In nearby countries, fuel costs per liter in Pakistani Rupees are as follows:
- India: Rs381
- Bangladesh: Rs345
- Sri Lanka: Rs391
- China: Rs385
Compared to them, Pakistan's fuel prices are relatively competitive.
Here are some global fuel prices in PKR per liter:
- Saudi Arabia: Rs196
- Japan: Rs356
- USA: Rs275
- Qatar: Rs170
- Malaysia: Rs160
While fuel prices in Pakistan have risen, they're not as high as some other places.
This increase is mainly because of global market changes. Pakistan is gradually increasing fuel prices to match international rates as per an agreement with the IMF. This has led to a Rs60 per liter increase in petroleum product prices.
The government aims to generate Rs869 billion in revenue from petroleum levies in the current fiscal year, compared to Rs542 billion collected in the previous fiscal year.
