Pakistan is prepared for an expected rise in petrol prices amid international market instability and expected tax hikes. Estimates indicate that prices would rise dramatically to around Rs300 per liter starting on April 16.
According to sources with direct knowledge of the situation the projected increase might result in an 8 rupee increase in the price of petrol per liter placing a heavy burden on drivers all around the country.
In Pakistan, the price of petrol is predicted to rise during the next two weeks, from the present rate of Rs289.40 per liter to about Rs298 per liter. In the meantime, a just increase in diesel prices is predicted, with a hike of almost Rs. 2 implying that the cost will be around Rs. 284.24 per liter.
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Unofficial claims that the Pakistani government is considering raising the fuel tax from its present level of Rs. 60 to an extraordinary Rs. 100 per liter, even though it is already at its highest, is likely adding to the burden. Concerns about the possible action’s financial effects on citizens already dealing with inflationary pressures are made worse.
April Petrol Price Expectations in Pakistan:
| POLs | Current Price | Expected Price |
|---|---|---|
| Petrol | Rs289.40 | Rs298 |
| Diesel | Rs282 | Rs284.24 |
There will be a last reckoning when the government releases the updated rates on April 15, based on the results of the exchange rate computations. If the news comes as expected, petrol prices in Pakistan may reach previously unheard-of heights, highlighting the need for careful budgetary management and measures to ease the burden on the general public.