Due to the rupee’s consecutive losses, Pakistan’s interim government is likely to raise petrol prices for the first two weeks of September 2023 in line with the general trend.
According to media reports citing knowledgeable sources, petroleum prices are likely to increase by up to Rs. 20 per litre at the beginning of next month, which will come as yet another shock to inflation-weary consumers who are already bearing the brunt of higher food prices because fuel prices directly affect the transport and agricultural sectors. Any increase will further burden the general public.
The price of gasoline and diesel may increase by more than Rs. 10 and Rs. 20 per litre, respectively, as long as the local currency is under pressure.
With the new price in place, the cost of petrol would reach Rs300.45 for a litre, while the cost of high-speed diesel would rise by Rs20 for a litre and might reach Rs313.40.
Additionally, prices for Light Speed Diesel and Kerosene oil could increase by as much as Rs14 per litre.
In recent weeks, the price of petrol has increased by Rs. 37.50 and that of diesel by Rs. 40 per litre.
Given that the cost of petrol and diesel was already increased by about Rs20 per litre in the previous revision, the anticipated price increase will only exacerbate the situation.
