Overview
The season of decreasing petrol price has been gone. The caretaker government has increased the price of petrol again in Pakistan for the next 15 days. The previous decision regarding petrol rate was taken before the general election and the government has increased the rate. As compared to the situation of the international market Pakistan’s petrol rates go completely against it.
Petrol rates become very low in the international market. Meanwhile, the USD is stable which was a big reason previously for increasing rates. There is no sure reason mentioned behind the increase of Rs. 2.73 in petrol rate.
Current Petrol Price In Pakistan
After a jump in petrol prices, the updated price of fuel in Pakistan reached Rs. 275.62 against the previous rate of Rs. 272.89. The price of diesel increased by Rs. 8.37 which made the new rate at Rs. 287.33.
The global market experiences a cheap rate of petrol. But in Pakistan, the current unstable situation has caused trouble. there is a huge difference between the price of the international market and current Pakistan fuel prices. Besides, the currency difference Prices in Pakistan should be down and follow international market trends like following when rates increased in the global market.
Conclusion
Pakistan’s economic stability is important for stable prices. Especially for international or import products like petrol. Pakistan’s oil market depends on imports which is a big issue we suffer with the ups and downs fuel rate. International market rates and dollar instability directly impact these imported products and cause of inflation in Pakistan.
