New Petrol Price in Pakistan from April 16?

Potential Petrol Price Hike in Pakistan from April 16th: Brace for Impact?

Pakistanis hoping for a reprieve from rising fuel costs may face disappointment, as reports suggest the government is considering another petrol price increase effective from April 16, 2024.

Read More: Petrol Price Slashed by Rs8 in Pakistan

This potential hike comes amidst ongoing concerns about economic recovery and global oil price fluctuations.

Rising Costs and Potential Impact:

Local media reports indicate a possible price increase for both petrol and diesel in the second half of April. This upward trend is attributed to two key factors:

• Global Oil Price Surge: The ongoing increase in global oil prices puts pressure on Pakistan’s import costs for petroleum products.
• Increased Petroleum Levies: The government is reportedly considering raising petroleum levies, further impacting pump prices.

Speculative Increase and Public Concerns:

The potential hike has sparked concerns among inflation-weary Pakistanis. Estimates suggest petrol prices could rise by over Rs. 9 per liter, pushing the cost to around Rs. 298 per liter – a significant jump from the current price of Rs. 289.40.

Diesel prices are also expected to increase by roughly Rs. 2 per liter, reaching an estimated Rs. 284.24 compared to the current Rs. 282.

Furthermore, a potential increase in the petroleum levy from Rs. 60 per liter to Rs. 100 per liter could further exacerbate the situation.

Official Confirmation Awaited:

While reports and speculation abound, no official statement concerning a further petrol price hike has been issued by any government minister or representative.

Background:

It’s important to note that the current government raised petrol prices by Rs. 9.66 per liter just last month. This brings the current price of petrol in Pakistan to Rs. 289.42 per liter, while diesel stands at Rs. 282.24 per liter.

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