Pakistan caretaker govt hikes petrol price by nearly Rs 15, HSD by Rs 18

ISLAMABAD: The Pakistan caretaker authorities has hiked petrol worth by Rs 14.91 per litre and high-speed diesel (HSD) worth by Rs 18.44 per litre, Daybreak reported.
The petrol worth is now at Rs 305.36 per litre and HSD at Rs 311.84 per litre, the Ministry of Finance mentioned in a put up on X (previously Twitter) after midnight.
No revision was specified within the charges of kerosene or mild diesel oil.
The value enhance comes on the heels of an already huge hike on August 15 when the interim authorities raised gasoline costs by as much as Rs 20 per litre. That leap in petroleum costs had come after comparable hikes by the earlier authorities on August 1, in line with Daybreak.
The value hike relies on current tax charges and import parity costs, primarily due to forex depreciation and a slight inc-rease in worldwide oil costs.
The rupee on Friday continued to increase losses, sliding one other Rs 1.09 towards the US greenback within the interbank market. It closed at a report low of Rs 305.54.
For the reason that induction of the caretaker set-up, the rupee has shed 4.6 per cent. By means of August, the rupee misplaced 6.2 per cent.
In the meantime, Daybreak just lately reported that Pakistan’s short-term inflation has risen 27.57 per cent on a year-on-year foundation for the week ending on August 17 largely because of a surge in petroleum costs, confirmed the official knowledge launched on Friday.
The inflation, nonetheless, decelerated from the previous week’s 30.82 per cent.
On a week-on-week foundation, the weekly inflation, measured by the Delicate Value Index (SPI), rose 0.78 per cent, displaying a rising development for the previous 4 consecutive weeks.

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