In Pakistan, over the next two weeks, the price of petrol may increase by 20 rupees. Industry sources claim that estimates based on the price of petrol around the world indicate that the most recent increase is expected.
Since the last review, the government has increased the prices by 35 rupees per liter. While the Petrol Levy (PL) is currently Rs. 50 per liter, the General Sales Tax (GST) is currently 0%. The International Monetary Fund (IMF) will reportedly demand a 17% GST, though.
Petrol Price, GST & Foreign Exchange Rate
The prices may be raised to reflect changes in the foreign exchange rate in the next two weeks’ review, according to the sources. Since the dollar rate has remained high, consumers will not experience any relief.
The situation will worsen if the government decides to implement GST and change the exchange rate at the same time because the cost of gasoline could increase by Rs. 40 per liter. In the meantime, the foreign exchange rate is predicted to cause diesel prices to increase as well.
Although the price of diesel has decreased by five to six dollars on the international market, the depreciation of the rupee makes it impossible for the government to pass on the savings to the populace.
Last week, according to our sources, the government increased the per-liter prices as follows:
- Petrol Rs. 21.71/liter
- High-Speed Diesel Rs. 6.85/liter
- Kerosene oil Rs. 17.60/liter
If the data from the sources are correct, prices have significantly increased, especially for fuel. Additionally, this will burden the already-suffering masses from inflation.
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
