The petrol price in Pakistan may see an increase of Rs. 20 for the next fortnight. As per industry sources, the fresh hike is predicted based on the calculations of the international petrol rates. In the last review, the government had increased the prices by massive Rs. 35/liter. Meanwhile, the current Petrol Levy (PL) is Rs. 50/liter, while there is 0% General Sales Tax (GST). However, there are reports that 17% GST will be imposed under the conditions by International Monetary Fund (IMF).
Petrol Price, GST & Foreign Exchange Rate
The sources have also said that the prices may be increased to adjust the foreign exchange rate in the next fortnight’s review. The dollar rate has remained on the higher side, which will not allow relief to the consumers.
If the government decides to adjust the exchange rate and impose GST together, the situation will worsen as the petrol price may go up by Rs. 40/liter. Meanwhile, diesel prices are also expected to go up due to the foreign exchange rate. Although the cost of diesel has gone down by five to six dollars in the global market, but the devaluation of the rupee will not allow the government to pass on this reduction to the citizens.
Last week, our sources claimed the government would jack up the per-liter rates as follow:
- Petrol Rs. 21.71/liter
- High-Speed Diesel Rs. 6.85/liter
- Kerosene oil Rs. 17.60/liter
If the sources are right, then it is quite a significant jump, especially in the price of petrol. And this will further burden the already inflation-hit masses.
Current Fuel Prices in Pakistan
Petrol PKR 249.80
High-Speed Diesel (HSD) PKR 262.80
Light Diesel Oil (LDO) PKR 187.00
Kerosene Oil PKR 189.83
What do you think about the fresh hike in petrol price in Pakistan? How would it affect you? Please share your thoughts in the comments section.
