Last Updated on: 3rd July 2023, 03:44 am
What Could Be The Latest Petrol Price in Pakistan For The 2nd Half Of January 2023?
Amid dwindling foreign exchange reserves and political uncertainty, the aggregate value of the Pakistani rupee has continued to depreciate, which will impact oil prices.
Local media reports suggest the coalition government is likely to hike prices of petroleum products by as much as Rs.9 per liter over the next two weeks. The price of high-speed diesel could rise by Rs. 1.06 per liter during POL’s price review.
Despite the significant depreciation of the local currency, reports citing Oil Division sources say the government may decide not to hike prices by adjusting oil royalties.
Currently, Rs 50 per liter is applied to petrol and Rs 32.50 per liter to diesel while GST is not levied on sales.
The exchange rate adjustment for major oil importers, including the state oil company, was reportedly estimated at Rs 5 per liter for petrol and Rs 3.50 per liter for high-speed diesel.
If the government announces another increase, the new petrol price will reach Rs 223 per liter while the diesel price will reach Rs 228.
Last month, oil prices remained unchanged for the first half of January 2023.
Pakistanis have faced several oil crises since the ruling alliance government came to power to honor its obligation to the international lender.
Also Read: Federal Govt Increases The Petrol Price By Rs1.45 Per Liter Once Again