Petroleum Price could increase by Rs 15 in Pakistan

 


Petroleum goods will likely cost higher starting on August 16 once the caretaker administration sets new rates tomorrow (August 15). 


According to the journal, the cost of petroleum is anticipated to rise by Rs. 15 per litre, while the cost of diesel would rise by Rs. 20 per litre.


A rise in the commodity on the world market is what will cause the anticipated increase in the price of petroleum products.


As a result of the rise in the price of petroleum products on the international market, the price of crude oil increased by $5 per barrel, from $86 to $91 per barrel. Additionally, there is a $2 per barrel additional premium fee for crude oil.


However, the cost of petrol and diesel on the international market has also gone up by $5, from $97 per barrel to $102 per barrel.


According to the current exchange rate, diesel and petrol in Pakistan are expected to increase in price by Rs20 and Rs15 per liter, respectively, if this price stays the same.


The outgoing government announced a significant Rs19 per litre rise in the price of gasoline and diesel during the most recent fortnightly review, claiming that this was necessary to meet IMF expectations.





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