As the rupee suffered back-to-back blows, Pakistan’s interim government is expected to raise petrol prices for the first two weeks of September 2023, in accordance with global trends.
According to media reports, petroleum prices are likely to rise by up to Rs20 per litre beginning next month, bringing in to the shock for inflation-weary people already suffering from higher food prices, as fuel prices directly impact the transportation and agriculture sectors, and a rise will further burden the masses.
Because the rupee remains under pressure, the price of fuel might rise by more than Rs10 per litre and diesel by Rs20 per litre.
With the new price in effect, the price of petrol would touch Rs300.45 per litre while the price of High-Speed Diesel will increase by Rs20 per litre and is expected to touch Rs313.40 per litre.
Other petroleum products, including kerosene and light-speed diesel, may also experience a price increase of up to Rs14 per litre.
In recent weeks, the price of petrol has risen by Rs37.50 and that of diesel by Rs40 a litre.
The anticipated price hike will compound existing concerns, given that petrol and diesel costs saw an approximate Rs20 per litre increase in the previous adjustment