Petrol Price Hike: Rs5 Per Litre Increase Expected
11 hours ago
At a glance
- Petroleum product prices are expected to increase in the upcoming fortnightly review.
- Petrol prices are now likely to increase by Rs5 per litre, according to available reports.
- The government is reportedly considering reducing the petroleum levy to offset the impact of the increase.
Story so far
Petroleum product prices in Pakistan are expected to see a significant increase in the upcoming fortnightly review. High-speed diesel (HSD) is likely to register the sharpest hike, potentially rising by as much as Rs40 per litre, while petrol was previously expected to become around Rs10 per litre more expensive from July 18. However, available reports now suggest that petrol prices could increase by Rs5 per litre.
Latest development
Available reports now suggest that petrol prices could increase by Rs5 per litre in the upcoming fortnightly review.
Latest updates
Available reports now suggest that petrol prices could increase by Rs5 per litre.
Experts have warned of a potential price shock, suggesting that petrol prices could reach $200. Additionally, it has been stated that FM Asim Munir and PM Shehbaz Sharif will be remembered for their leadership concerning petrol prices.
Global diesel prices have reportedly jumped from $110 to $140, with oil prices topping $96. Amidst these developments, the Petroleum Minister has delivered what is described as "bad news" regarding petrol prices, implying a likely increase.
Available reports suggest that petrol prices could increase by as much as Rs. 40 per litre in the upcoming fortnightly review. This new projection for petrol is significantly higher than the previously anticipated increase of around Rs. 10 per litre.
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