The government of Pakistan on Tuesday has increased prices of petroleum products up to Rs12.03 per litre, taking that of petrol to a record level of Rs159.86 per litre effective from February 16 (today).
The price of petrol broke all previous records by reaching the Rs160 per litre mark.
Meanwhile, the ministry of finance said in a statement that the prices of petroleum products in the international market are showing a drastic increase and presently, they are at the highest level since 2014.
It said that despite the unabated increase in the prices since the beginning of the year, Prime Minister Imran Khan deferred the last review of rising in petroleum products’ prices on January 31, 2022 and advised against the Oil and Gas Regulatory Authority’s summary.
