Petrol Price in Pakistan
Islamabad – The costs of petroleum items are anticipated to decrease for the latter part of the upcoming month as the federal administration planned to offer relief to the inflation-burdened citizens who are confronting record food and fuel prices.
The government headed by Sharif is ready to reassess the prices of oil products today for the upcoming two weeks.
Insiders asserted that progress in the domestic currency would aid the government in reducing the ex-depot cost of petrol.
Nevertheless, the IMF’s requirement for an increase in the petroleum levy might impede relief for the general public.
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In the meantime, the excise duty on high-speed diesel (HSD) is anticipated to rise for the upcoming fortnight.
The cost of PoL items experienced a surge worldwide in the past few days.
However, due to PKR displaying resistance against the greenback after receiving funds from the IMF and financial aid from a friendly country, individuals might attain a slight alleviation in fuel rates.
As of July 15, the ex-depot price of petrol indicates a reduction of approximately Rs10 compared to the previous price. Nevertheless, the ex-depot price of High-Speed Diesel displays an increase of over Rs3.50.
Likewise, costs of light-speed diesel, as well as Kerosene, are equally indicating an upward pattern.
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Pakistan is imposing a petroleum levy of Rs50 per liter on High-Speed Diesel, whereas the IMF proposes raising it to Rs60 per liter. Nevertheless, rather than increasing the levy by Rs10, the government might opt to hike up the PL by Rs5.
In the most recent fortnight’s assessment, the authorities maintained gasoline prices unaltered for the subsequent fortnight until 15 July.