Overview
The midnight decision of petrol price hike gives us a shocking morning. The first day of this month gives a surprise petrol price hike. Petrol price in Pakistan took a shocking U-turn with a rate increase. The expectation of a petrol rate jump has gone right and the incumbent caretaker government has announced an increase of Rs. 13.55/liter in the previous petrol rate.
Petroleum product rates in Pakistan going the opposite game of the international market. The international market saw a massive decline in rates. Meanwhile, we have had a low rate in the last 15 days but now the prices have increased which might be due to the coming General Election in Pakistan held on 8th February 2024.
Current Petrol Price
Petrol price in Pakistan for the next 15 days announced. After an increase of Rs. 13.55/liter the petrol rate reached Rs. 272.89/liter. Against the Diesel rate government has approved the Rs. 2.75/liter increase and now it’s set at a rate of Rs.278.96. The price of Light Diesel Oil receives an increase of Rs. 2.03/liter setting a new record of Rs. 166.86/liter. Meanwhile, Kerosene oil users get relief from a reduction of Rs. 0.24/liter.
Conclusion
The petrol rates issued after the approval of the caretaker Prime Minister. We are expecting an increase of Rs.7/liter. The reason we are expecting is the upcoming general election. Meanwhile, there is no reason mentioned by the government.
