Are petrol prices in Pakistan at an all time high?

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Context: While addressing the media with other members of the opposition parties on August 1, 2019, after the defeat of No-confidence motion against Senate Chairman, , Mr. Bilawal Bhutto Zardari, MNA, Chairman PPP, claimed that petrol prices in Pakistan are at an all-time high.

Claim: “Today Petrol Prices in the country are at an all-time high.”

Claimant: Mr. Bilawal Bhutto Zardari, MNA, Chairman PPP

Source of Claim: https://www.youtube.com/watch?v=vc9M1pfcd18 (starts at 2:40)

Status: True

Sources:

Report/Ruling: On July 31, 2019, the Federal government increased the prices of all petroleum products for the month of August. This pushed the price of petrol (Altron Premium) to PKR 117.83. According to the data available on Pakistan State Oil Archives from January 1, 2006 – August 1, 2019, this is the highest recorded petrol price in Pakistan.

Prior to 2006, we can find data from the World Bank. This data (in US $) was taken from German Agency for International Cooperation [GIZ]’s International Fuel Prices Database and dates back to 1995. This gives us the “pump price” i.e., the price at which petrol is sold to the public. The highest recorded pump price for gasoline in PKR was 36.2 in 2004, as we can see in the image below. Hence, petrol prices are indeed at their highest recorded value.


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