Here is the forecast latest news that petrol prices are expected to increase in the upcoming days in Pakistan. The petroleum division has proposed an increase in the prices of all key petroleum products. As per the report, the price of petrol and diesel has been estimated to goes-up to RS.27 per liter and RS. 32 per liter under the proposal.
Was Petroleum price increase expected or Not?
The petroleum products prices were expected to increase significantly. Because, Pakistani previous prime minister Imran Khan, reduces the price rate by RS. 10 per liter. They also said that the government will not raise the price of petrol until the next financial budget in Pakistan.
Furthermore, as we told you earlier that the Finance Division stated that the government had decided to freeze the prices of fuel prices in Pakistan for the next 15 days instead of an unexpected price increase in the worldwide market. It definitely affects the government economy. The previous government had decided to take the burden of 33 billion to provide relief to local consumers.
Reason for this Drastic Step:
The new government will have to take a drastic step to increase the prices of all petroleum products in Pakistan. The reason behind the increase in fuel prices is that it is difficult for the Pakistani government to bear the loss of billion rupees.
Current Petroleum products Prices:
The current petroleum products prices are already at a high peak. Currently, petrol is being sold in the country at RS. 149.86 per liter, high-speed diesel (HSD) at RS. 144.15 per liter, kerosene KSO at RS. 125.56 per liter and light diesel oil (LDO) at RS. 118.31 per liter in Pakistan.
We expect that the petroleum prices do not increase too much in Pakistan but it appears unavoidable. We expect the prices of petrol, diesel and other products to go down in the coming days. Let’s see what happens next, whether the prices of petrol increase or not. The new government will take this step or not. Share your thoughts on what you think.
