Pakistanis brace themselves for another surge in petrol prices in Pakistan, coming amidst record inflation, high utility bills, and rising costs of everyday necessities. The nation, with a population exceeding 240 million, faces a potential increase of up to Rs8 per litre for petrol in Pakistan starting April 16.
Following last month’s hike, the federal government expected to announce another significant rise in petrol prices in Pakistan. This move comes as the International Monetary Fund (IMF) pushes for additional taxes. The increase projected to elevate the price of petrol to Rs298 per litre from the current price of Rs289.41, which already incorporated a Rs9.66 hike implemented on March 31.
Diesel prices might also experience fluctuations, potentially reaching around Rs282.24, reflecting a decrease of Rs3.32. However, even a minor rise in diesel prices could still impact inflation as diesel fuels commercial vehicles that transport food and agricultural equipment.
Petrol prices in Pakistan adjusted bi-weekly, factoring in international prices and fluctuations in the exchange rate of the local currency. The anticipated increase in petrol prices will likely exacerbate the pressure on the already struggling population, impacting their daily expenses and overall cost of living.
