The upcoming announcement by the interim government regarding revised prices, set for tomorrow (August 15), is anticipated to lead to a rise in petroleum product costs starting on August 16. As reported a potential increase of Rs 15 per liter for petrol and Rs 20 per liter for diesel.
This projected price adjustment is attributed to a surge in the global market’s commodity rates. According to the Daily Jang’s coverage, the cost of crude oil has escalated by $5 per barrel, ascending from $86 to $91 per barrel. This escalation is attributed to the heightened costs of petroleum products on the worldwide market. Furthermore, an extra premium charge of $2 per barrel is being levied on crude oil.
Similarly, the international market has witnessed an increase of $5 per barrel in diesel and petrol prices, raising the figures from $97 to $102 per barrel.
Should these rates remain constant, based on the present exchange rate, it is anticipated that the cost of petrol in Pakistan will undergo an upward adjustment of Rs 15 per liter, while diesel’s price could climb by Rs 20 per liter.
During the previous bi-weekly assessment, the departing government had announced a significant increase of Rs19 per liter in both petrol and diesel prices. This decision was justified by citing its alignment with the directives of the International Monetary Fund (IMF).