Petrol Price Hike

Govt likely to rise Diesel, Petrol price by Rs. 10-17 per litre

If government increase the PDL then Petrol Price has been projected to cost Rs. 15 per litre and diesel Rs. 23 per litre.

Infosette (News) ISLAMABAD: Although the price of petroleum products and crude oil remained slightly lower, from August 1, 2022, there may be an increase in the price of gasoline and diesel by Rs. 10–17 per litre. However, simply because of how crazy the exchange rate has become, the increase has been estimated higher.

Sources claim that the price increase of Rs. 10 for gasoline and Rs. 16–17 for diesel has been estimated without taking the petroleum levy into account (PL).

According to sources, the estimated price increases for gasoline and diesel of Rs. 10 and Rs. 16–17 do not include the petroleum levy (PL).

The anticipated increase in POL prices has also been calculated without taking into account the ECC’s Thursday approval of an increase in dealers’ margins (DMs) on POL prices of Rs2.10 per litre for gasoline and Rs2.87 per litre for diesel to Rs7 per litre. Additionally, if Rs. 2.10 is added to the price of gasoline, the price of a litre could rise to Rs. 17.10, and if Rs. 2.87 is added, the price of a litre of diesel could rise to Rs. 25.87.

And the increase in dealers’ margin will take effect on August 1, 2022, if the federal cabinet approves this decision in the next two days.

According to industrial sources, the value of the US dollar has increased by Rs40 so far this month. The current exchange rate against the US dollar is Rs239.9427, and the open market rate is Rs246.15. However, they claimed that today’s (Friday) exchange rate would determine the precise cost of gasoline and diesel.

According to unaffiliated experts, Pakistani consumers won’t be able to benefit from today’s ($Thursday) settlement of the crude oil price at $99.4 per barrel; instead, they will have to deal with a rise in POL prices as a result of the rising exchange rate. Though it is necessary to send a message to the IMF, the government appears more inclined to impose PL on both gasoline and diesel by Rs. 5 per litre each.

Pakistan economy continously suffering due to unstability of political environment dollar continously rising and many major issues are growing.

In this case govt should implement economic emergency to avoid this suffering.

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