Another Petrol Bomb – Petrol price increased by Rs. 18 & high-speed diesel by Rs.20/-

Another Petrol Bomb

In an overnight announcement on Tuesday, August 15, 2023, the interim government of Pakistan dropped another petrol bomb on the people of Pakistan, a significant petrol price increase and high-speed diesel prices. The total cost of petrol has risen by Rs.18, reaching Rs290.45/liter, whereas the cost of high-speed diesel has increased by Rs.20, making it Rs293.40/liter.

Just a fortnight ago, Pakistan Democratic Movement (PDM) led by Shehbaz Sharif, increased the fuel prices by Rs. 20/liter, highly criticized by the civil society and media channels. Netizens followed the event and created a lot of memes on the subject, which circulated on the internet for an entire week, making it the most highlighted subject of the week on Twitter and other social media platforms.

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Press release by Finance Division pertaining to Petrol Price

The Finance Division in a tweet, responsible for economic matters of the country, stated that the price hike was due to an international price hike during the past two weeks. Therefore, immediately adjusted accordingly.

As soon as the news circulated over social media, many fuel stations can be seen flooded with people with cars and bikes, ready to be fueled up to avoid a Rs. 20/liter for at least a couple of weeks, for those who travel to offices and home only.

On the internet, Anwaar ul Haq Kakar is criticized a lot for increasing the fuel prices so abruptly, only a day after he assumed the role of caretaker prime minister. The new fuel prices are set to come into effect Wednesday, which is the 16th of August 2023.

While getting a bailout package from International Monetary Fund (IMF), Pakistan committed to an Rs50 per liter levy on petrol price as a condition for a financial bailout package.

The recent petrol price and high-speed diesel prices has sent shockwaves through Pakistan, hence the public outcry. The Finance Division’s explanation, though grounded in international market fluctuations, has done little to appease the public’s discontent, as evident on social media platforms.

As the country grapples with these harsh economic conditions, the scrutiny of the newly appointed Caretaker Prime Minister of Pakistan Anwaar ul Haq Kakar and Pakistan’s obligations to the IMF highlights the complexity of the situation at hand.

4 thoughts on “Another Petrol Bomb – Petrol price increased by Rs. 18 & high-speed diesel by Rs.20/-”

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