Caretakers Jack Up Petrol Price By Rs14.91, Shoots Past Rs300

A petrol pump worker putting petrol in a car in this undated picture. — Reuters/File As the nation grapples with high electricity bills, the caretaker government late Thursday jacked up the petrol and diesel prices by over Rs14.

The caretaker government raised the petrol price by more than Rs14 late Thursday, during that time in which country struggles with rising electricity costs.
The petrol price increase, according to the Finance Division, was brought on by “variations in exchange rates and the increasing trend of petroleum prices in the international market.”
Following the lifting of import restrictions that raised demand for the dollar and an increase in the risks involved with financing the nation’s current account deficit, the local currency has reached an all-time low.
Since the caretaker government was established and given the responsibility of monitoring at least one review of the $3 billion standby agreement with the International Monetary Fund (IMF), the rupee has decreased by more than Rs15 on the interbank market.

Read More: Caretakers Rule Out Relief In Electricity Bills

Previously, the government increased the petrol price by Rs19.95/litre and high-speed diesel on August 1 by Rs. 19.90 and on 16 August, the cost of petrol increased by Rs. 17.50 per litre, while the cost of high-speed diesel jumped by Rs. 20 per litre.

According to the government’s approach for reviewing prices every two weeks, the price of gasoline would be reviewed on Thursday, the 14th of September.

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