New Petrol price in Pakistan – Over the next two weeks, there is a possibility that the cost of gasoline and diesel could experience a significant rise of approximately Rs 24 per liter. This potential increase comes as the country navigates a challenging situation prompted by demands from the IMF.
As reported by local media sources, there’s a possibility of a significant increase in diesel prices starting August 16, 2023. This potential price hike could be as much as Rs 24 per liter. This situation has the potential to make the current complex scenario even more challenging due to the already high inflation levels. Furthermore, there’s also a chance that petrol prices might go up by approximately Rs 12 per liter.
This expected rise in prices could make the current problems even worse, especially when we look at the recent past where both gasoline and diesel prices went up by about Rs 20 per liter.
The main reason the government keeps raising the prices of fuel is because the International Monetary Fund (IMF) is putting pressure on them. This is in response to the increasing costs we’re seeing.
It’s important to highlight that there has been a significant increase in the prices of processed oil products. The cost for each barrel has gone up from $13 to $111.