After a series of petroleum price hikes, the government finally gave relief to the public and reduced the prices from Dec 16. But, once again, things are not looking good as the government is working on the mini-budget. The International Monetary Fund (IMF) is putting up tough conditions, and that may lead to another hike in not just petrol prices but also other items.
The government is presenting the mini-budget in the National Assembly today. As per media sources, the taxes and duties on petroleum, gas, and more than 1700 other items will be increased.
The mini-budget will affect the taxes on many local as well as imported products, including cars, clothing, and other items.
Current Petrol Prices
After the last price reduction of Rs. 5, the current petrol price is Rs. 140.82 per litre against the old rate of Rs. 145.82.
The current diesel price is Rs.137.62 per litre.
The current price of kerosene oil is Rs. 109.53 per litre.
The current price of light diesel oil is Rs. 107.06 per litre.
The public waited too long to get good news on the petrol prices and finally got it on Dec 16. It has only been two weeks, they haven’t even lived the joy, and here we go again.
That being said, the government is also indebted to the IMF and can’t go against what they ask. If the IMF puts tough conditions, the government will have to increase the taxes and duties and hike the prices. And there’s nothing we can do about it.
The new prices will set the tone for the new year, so let’s see what happens on the 1st of January when the government revises the petroleum prices. Get ready for another blow because it’s most likely coming. And remember whatever happens, we are in this together.
That is a really great news. I hope that the government increases the price to such a level that people stop using stupid bikes and rickshaws out of sheer frustration.