Petrol Diesel Prices May See a Big Rise from Oct 16
Fuel Prices May Rise from Oct 16th
The series of petrol cuts may ready consumers in Pakistan to face a vicious fuel price hike on October 16th, 2024.
The reports have already been going early that the high-speed diesel may be increased up to Rs.10.25 per liter.
The Wait: Petrol Diesel Prices May See a Big Rise from Oct 16
- Pakistan State Oil is getting ready a working paper and they would present to the Oil and Gas Regulatory Authority (OGRA) on the 15th of October, this is so that they can adjust the fuel prices.
Read More: Pakistan’s Petroleum Imports Surges by 15.65%
- According to their calculations so far, petrol would be increased by Rs. 3.95 per liter, kerosene oil by Rs. 7.85 per liter, and light diesel oil (LDO) by Rs. 8.33 per liter.
- Once the proposed adjustments are reviewed by OGRA, it will be sent to the government for final approval.
- The new prices of fuel will then officially be announced by the Finance Ministry after receiving approval from the prime minister.
- This was attributed to a possible surge being caused by OGRA’s proposed hike of Rs. 2.75 per liter in an effort to increase profit margins for oil companies and petrol stations.
- In the event that it gets approval, profit per liter for oil companies would move to Rs 9.22, while petrol dealers would enjoy margins at Rs 10.04.
Estimated New Fuel Prices: Petrol Diesel Prices May See a Big Rise from Oct 16
These hikes would put the petrol at Rs. 247.03 to Rs. 250.98 per liter, HSD at Rs. 246.29 to Rs. 256.54, kerosene oil at Rs. 154.90 to Rs. 162.75, and LDO at Rs. 140.90 to Rs. 149.23 per liter.
This is the current government taxes and without a change in the exchange rate.
Cost of Living Impact: Petrol Diesel Prices May See a Big Rise from Oct 16
More fuel costs would also increase the cost of living for millions of Pakistanis, transport costs included, and so will the price of goods and services.
These are provisional figures, and final prices may vary. The government will be extremely cautious before making a final decision, keeping in view the economic fallout that may eventually ensue from a hike.
Note: The information above might not be accepted 100%. Please verify from your own sources. We will not be responsible for any kind of loss due to our content.
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