This is the second price increase in a month that Pakistan announced on Tuesday for petrol and high-speed diesel. In a post on X, formerly known as Twitter, the ministry said that the price of petrol would increase by 17.50 Pakistani rupees to 290.45 rupees per liter as of August 16.
In order to reach the budgetary goals outlined in a pact with the International Monetary Fund (IMF), the nation raised the price of fuel and diesel earlier this month, which drove up inflation even further.
After receiving approval from interim Prime Minister Anwaarul Haq Kakar, who was voted on Monday, the cash-strapped nation revealed the most recent raise late at night. Kakar presided over discussions on the economy and current events the day after taking the caretaker PM oath and vowed to stick with the previous administration’s objectives.