ISLAMABAD: In view of the recent unprecedented rise in the international prices of crude oil and petroleum products, the Federal Government has decided to revise the prices of these products with immediate effect. The revision in the consumer prices … announced today [Nov 20] … includes … Rs 1.25 per gallon in the price of motor gasoline. The price of high speed diesel has been raised by 95 paisa per gallon. … The freight and other overhead charges have also gone up by 200 to 300 per cent. We are almost wholly dependent on imported crude oil. …
Consequent upon the recent decision of oil-producing States to raise prices, almost all countries have been obliged to revise the prices of petroleum products upwards. Prices of petroleum products in our neighbouring countries are already much higher. To quote only one example, motor gasoline is now being sold at Rs. 13.65 per gallon in … India. This compares with Rs. 7.50 in Pakistan even after the increase announced today. … Pakistan’s cordial relations with the oil-producing States will, we hope, assure continued supply of petroleum products to this country. But there is no way to escape the impact of rapidly increasing international prices.
Published in Dawn, November 21st, 2023
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