Petrol price may be Rs 286 per liter in Pakistan, problems may increase amid cash crunch
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Pakistan: The coming time for the neighboring country Pakistan can prove to be very bad. As we all know that Pakistan is currently going through a very bad economic phase and inflation is also increasing continuously here. Due to the increasing inflation, the public is facing difficulties to buy even the things they need. Amidst this period of troubles, it is being speculated that now the prices of petrol may also increase here. If the reports are to be believed then there may be an increase in the prices of petrol from Rs 10 to Rs 14 per liter in the coming days.
Petrol prices hiked by Rs 10-14 per liter
Pakistan government facing cash crunch is going to increase petrol prices by Rs 10-14 per litre. This will put more burden on the people who are already suffering from skyrocketing inflation. Quoting industry sources, The News International has expressed the possibility of increasing the prices of petroleum products. According to this, the federal government may increase the prices of petroleum products citing rising oil prices in the global markets. The government of Pakistan reviews petroleum prices every fortnight. Contrary to the previous review, if the government also adjusts the exchange rate deficit, then this increase can be up to Rs 14 per liter.
The public is not burdened by the weakening of the Pakistani rupee against the dollar
Last time, the government did not pass on the public the burden of the weakening of the Pakistani rupee against the dollar. The current price of petrol at the oil depot in Pakistan is Rs 272 per litre. If the government puts the burden of global oil price hike on the consumers, then this price can go up to Rs 286.77 per litre. The government also levies a cess of Rs 50 per liter on petrol along with zero general sales tax. However, there is little chance of any change in the price of high-speed diesel. If the government does not adjust the exchange rate deficit, then the price of diesel may fall by up to Rs 15 per liter. (with language input)
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