The prices of diesel and petrol increased by 67.5 percent and 57.33 percent respectively in the last two years. According to data collected by Business Recorder price of diesel rose by Rs 41 and petrol by Rs 32 per litre in the last two years: on June 1, 2009 petrol price was fixed at Rs 56.21 per litre and diesel at Rs 55.71 per litre and currently their price is Rs 86.71 per litre and Rs 94.11 per litre respectively.
During the last two years the government imported diesel worth Rs 417.774 billion and petrol worth Rs 81.940 billions. On May 1, 2010 diesel was selling at Rs 76.80 per litre and petrol at Rs 75.08 per litre, which after the passage of one year is being now sold at Rs 86.31 per litre and Rs 94 per litre respectively.
The government raised POL prices 12 times and reduced prices 12 times, while twice it left prices unchanged during the past two years. The increase in POL prices, with a direct and instant impact on transportation, has significantly contributed to fuelling inflation in the past two years. The most affected by the rise are the poor, the lower middle and the middle classes.
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