On August 31, 2023, the government of Pakistan announced that starting from September 1, 2023, the prices of gasoline and diesel will go up by a lot. Gasoline will cost Rs 305.36 for each liter, and diesel will cost Rs 313.84 for each liter.
This means that the price of gasoline will be Rs 14.91 more per liter, and diesel will be Rs 18.44 more per liter than before.
The reason for this big price increase is that the Pakistani money, called the rupee (PKR), has been worth less compared to the US dollar. On August 31, 2023, the rupee reached its lowest value ever, with 1 US dollar being equal to PKR 305.54.
This increase in fuel prices is not good news for people because they are already struggling with the prices of things they need. Also, it might make electricity bills go up, which is worrying for businesses and regular people.
The government says they had to do this because gas prices are going up in the world, and the exchange rate between the rupee and the US dollar is changing a lot.