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Petrol price reaches historic high in Pakistan

A worker at a fuel station fills the petrol tank of a motorcycle. — AFP/File

Hours after unveiling a ‘mini-budget’ for the inflation-hit people, the Pakistan Democratic Movement (PDM)-led government Wednesday announced an increase in the price of petrol for the next fortnight, taking the rate to a historic Rs272 per litre.

The new prices will come into effect from 12am tonight, a press release from the Finance Division read.

The price of petrol has been moved up to Rs272 per litre after an increase of Rs22, the division said, noting that the surge has taken place due to the rupee’s devaluation against the dollar.

More to follow…

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