Islamabad: Petrol Price to Rise up to Rs. 12 per Liter from September 2023, making the fuel purchasing power unbearable for the common man. This hike in price will complete a triple century as the caretaker government is taking steps toward monetary objectives given by the IMF and due to an increase in global oil rates and devaluation of the Pakistani Rupee (PKR) against the US Dollar (USD) in recent weeks. Recently a Rs. 14 hike in petrol price was also observed since 1st week of September.
A worrisome has also circulated that the Economic Coordination Committee (ECC) has increased the margins of the petroleum dealers and Oil Marketing Companies (OMCs). This move is going to increase petrol prices from 15th September 2023. The increase is expected to be Rs. 3.51/Ltr. As per the latest updates on 14th September, the petrol prices are now expected to rise by Rs. 10/- on 16th September.
پٹرول کی قیمتوں میں اضافہ
پٹرول کی قیمتیں غریب کی پہنچ سے دور ہو گئیں
| Current Prices | Prices after 1st September |
| Petrol Rs. 290.45/- | Petrol Rs. 302/- |
| High-Speed Diesel Rs.293.40/- | High-Speed Diesel Rs. 307/- |
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Another big wave of inflation is about to come as the prices of fuel are likely to surge from September 1st, 2023. Reportedly, the Oil and Gas Regulatory Authority (OGRA) is considering a price hike of around Rs. 12 per liter for petrol, while the price of diesel will see a surge of Rs. 14.83 per liter. Petrol Price to Rise up to Rs. 12 per Liter from September 2023 will be a big shock for the already poor people of Pakistan.
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As the country is facing economic and political turmoil, people are distressed because of inflation and high taxes. A huge number of protests are already happening over the excessively high rise in electricity bills and inflation. The price for all the basic commodities will increase with this hike in fuel prices. It will also jolt the local currency, which is already under pressure.
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In Pakistan, petrol price has already climbed by Rs. 37.50 and diesel by Rs. 40 per liter in recent weeks, and after the announcement of a hike in fuel prices from September 1st, Jamaat-e-Islami (JI) and other political parties have announced a nationwide shutter-down strike on September 2nd, 2023.
Another development that is pertinent to mention in the wake of exploding inflation that the IMF has agreed to provide some relief.
September 2023 Development
The good news is that in a recent development, the IMF has now finally allowed a small relief of up to 200 units over three months. In return, the government has to increase the gas prices by up to 50% or 60% from July. Initially, the government had asked the IMF to provide relief for up to 400 units per month, which will be beneficial for 32 million consumers or 81%. But later on, a discount for 200 units was awarded. Petrol Price to Rise up to Rs. 12 per Liter from September 2023.
Consumers utilizing 100 units will be asked to pay Rs. 24.21 per unit.
Consumers using 101 to 200 units per month will be paying Rs. 30.68 per unit.
In addition, the government has also vowed to take measures to stop electricity theft and against defaulters.
For more details, contact the Munafa Marketing.
