Petrol price crossed the Rs100 per litre barrier for the first time in the country’s history as the Ministry of Petroleum raised its price to Rs105.68.
A notification issued on Saturday increased the price of petrol by Rs8.02 to Rs105.68.
Price of high speed diesel was raised by Rs4.70 to Rs108.16.
Price of kerosene oil rise by Rs5.29 to Rs101.69.
The government has cited rising prices of oil products in the international market as the reason behind the increase.
CNG prices reach new highs
In a simultaneous move the government raised the prices of CNG by as much as Rs11.58 in the country.
CNG prices were increased by Rs9.53 in Sindh and Punjab.
While CNG prices were raised by Rs11.58 in Khyber Pukhtunkhwa and Balochistan.
LPG prices decreased by Rs18 per kg
Liquefied Petroleum Gas LPG prices were decreased by Rs 18 per kilogram. Prices of 11.8kg cylinder dropped to Rs212 and 45.5kg cylinder to Rs835, Patron-in- chief All Pakistan LPG Distributors Association APLDA Abdul Hadi Khan said on Saturday, adding LPG international prices had fallen in the international market by $202 to $993 per ton for April 2012, slashing its import price by Rs 18,400 to Rs 122,000 per ton.
He said Saudi Armco Contract Price had dropped due to a fall in butane prices by $185 per ton and propane up by $240 per ton. He urged producers to reduce price in the country in accordance with drop in international prices to stabilise LPG falling sales. He called for increase in local production which shrank to 900 to 1100 ton per day in last one year.
He said LPG use in automotive sector was slashed by 60% due to price jacks by producers and 1000 LPG outlets closed due to price hike. He suggested government withdraw sales tax on LPG import in Federal Budget for fiscal year 2012-13 to eliminate monopoly of producers.
COMMENTS (28)
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@Harry Stone: and others Then why many corruption cases have been filed against this government. Moreover the Swiss Courts have also addicted Mr. Zardari and Benezeer Bhatto in money laundry case. We can claim that money and use it for the betterment of the people.
If this is the result of living in a democratic state , then we all are better of with dictatorship .
The present PPP's government deserves the "Nishan-e-Haider" on this the most ever admirable and praiseworthy achievement for the real,true and practical welfare and facilitation for the Pakistani nation and PPP's leadership deserves once again next regime after being elected in next general elections so that PPP's leaders could serve the nation and Pakistan in the most ever effective and the best ever way than now.I appeal/request the whole nation please elect PPP's leaders in next general elections to serve you in much the best way than now and enjoy the unlimited,unrestricted and uninterrupted freedom of expensiveness in the most effective way. Wish you the best of luck Pakistani nation.
Prices of gold, gasoline, exchange rates all are determined in the world market. Some nations have deep pockets and they can give govt subsidies to keep the prices lower. Does Pakistan have so much foreign exchange to help the car owners and others? They have to decide between the food, electricity, healthcare, cooking fuel and other basic needs before subsidizing gasoline. In addition Pakistan has how many gas guzzling military jeeps given to every army officer? We may not be able to provide subsidies to the public but we have a couple of hundred nuclear bombs to feel good about! It has been our choice nobody has forces us.
yeah its all musharraf's fault. That dictator spoiled us with fake pricing and good economy.
How can an Islamic Republic fall short of petrol. Where is the ummah. Ironically Pakistan is flush with petrodollars.
Yo Democracy!
I feel pity on poor uneduacted Pakistani's. First ask all these people, how much tax they pay?. Before criticizing government, one should be aware only 2 % people pay tax. So what is the point for demand in subsidies. All such people can spend money on cell phones, internet, McDonalds and other lavish things but don't want to pay a penny to government as tax. People around the world can use bicycle but we can't. We can't use buses and other public transport. Provision of public transport is also the responsibilty of rich people. If anyone wants to start a business of transport. Our students will stop and burn buses. Who pays bus fare? Everyone can sit in front of TV and listen to stupid politicians and news anchors but do not want to bring a change.
SMBB's golden quote fully implemented by People's Govt: "Democracy is the best revenge". Except that the revenge is being taken from the people of Pakistan.
Pakistan is paying the price for the various munafiqat it has been practicing over the years. If the neeyat is good the nation will be good. Prosperity will return when morality returns. The slow erosion of the nation for the last 30 years is gathering pace unless the people do something about it.
This is horrible. The govt keeps raising the price to cover it's corruption. This is sad.
People should stop government and instead pay taxes if they want fuel and food to be subsidized.
Why should gas and petrol prices in Pakistan be cheaper than the rest of the world? Do people in Pakistan not realize that they have to pay market rates and that it is not the job of the government to provide free or subsidized gas to people. Unless the people of Pakistan learn to live within their means and behave like other people in the world, there will be no progress. Why is gas and petrol so much more expensive everywhere else in the world? Think people!
Another gift of the "Peoples" government to the nation.
@Farhan Khan:
They are. They cannot continue to sell you a product for less than it costs. This has been happening for a long time in PAK and why you have the shortages you now have. I have to assume economics is not something taught in PAK
Honestly, for developing countries, I think military rule or communist rule might be better than democracy. When Pakistan was under army rule, things were much much better economy-wise. Pakistan was the model country in Asia at the time.. look at us now.
Petrol currently goes for 1.45 Canadian dollar in most parts of Canada which makes it more than Rs130 at a conversion of 90 to a dollar. It is rumored to hit $1.70 by June (Rs 153 if Pak Rupee doesnt go any lower than current rate). Canada has second largest reserves after Saudi Arabia and does not import its oil. Imagine if ruppee was at 50 to a dollar same fuel would cost 72.50 a liter in Pakistan. Prices of crude and refined oil have gone up a lot recently with events in middle east ( mostly engineered to benefit oil lobby). But government has to stop printing money and stop devaluation of currency by almost 10% every year. Prices going up in dollars and Rupee dropping is double hit for low incone country like Pakistan.
Survival of the fittest. That's what's happening in Pakistan and indeed other countries as well.The one's with the means to afford these price hikes survive, while the rest are eliminated under the crushing burden of inflation. Pakistani leadership though, finds ways of taking things to the extreme as usual. By the way, I bought a bicycle last year. At the pace POL prices are going up, there's going to be great demand for cycles in the future. Buy now while stocks last!
Come on people don't you know the govt is playing the April fools joke on you all...
What a waste...
It would seem PAK is finding it more difficult to live in its alternative universe.
Where is this inflation going to end? May God help Pakistan...
by the way what is the price of SOHRAAB bicycle nowadays :(
Jiyeeee Bhuttoo!, G.A Altaaf Bhai & Mubarak Asfandyar
Petrol Bomb + CNG Bomb ... good way to kill Poors and poverty...
Democracy is the best revenge ... Against voters ...
The way cooking gas price is increasing, the awam should go on a raw-food diet, it is supposed to be good for health anyways.:(
Alright, Rise the Prices but kindly spend the extra earnings on us. Please.