Petrol price may increase by Rs 14 in Pakistan
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Quoting industry sources, The News International has expressed apprehension of increase in 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.
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 apprehension of increase in 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 for the exchange rate deficit, the increase could go up to Rs 14 per litre. 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 oil depots in Pakistan is Rs 272 per litre. If the government passes the burden of global oil price hike on 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. Diesel price may fall by up to Rs 15 per liter if the government does not adjust the exchange rate deficit.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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