ISLAMABAD: The government is set to drop another petrol bomb on the inflation-hit masses from tomorrow after jacking up the rate by Rs 8 to Rs 10 per liter a fortnight ago.
According to sources, petrol prices may rise by Rs 6.60 per litre, while diesel may see an increase of Rs 5.27 per litre.
After this hike, the new expected price of petrol would be Rs 273.39 per litre (about 2.5% increase), and diesel Rs 278.25 per litre (about 1.9% increase).
The main reasons behind this expected price hike are changes in the exchange rate and adjustments in the petroleum levy (PL).
However, a reduction in the prices of other fuels is likely. Kerosene may see a decrease of Rs 3.74 per litre, and Light Diesel Oil (LDO) may drop by Rs 2.23 per litre.
Internationally, oil prices have surged past $71 per barrel following US President Donald Trump’s warning that he would impose stricter trade sanctions on Russia if it does not stop its war in Ukraine. Analysts warn that if the conflict continues, global petroleum prices may rise further, putting additional pressure on import-dependent economies like Pakistan.
