Yet another blow to the inflation-prone masses as petrol and diesel prices in Pakistan will witness an upward trajectory from April 16, 2024.
The increase was triggered by rising global oil prices and the government’s strategic decision to raise customs duties.
A source privy to the matter said that as the price of petrol is expected to rise from $9 per litre, residents will be hit hard by the development.
Insiders have suggested that the price of gasoline could rise as much as $8 per liter, which represents a significant increase from the current price of $289.40 to the expected $298 per liter.
Also, diesel prices are poised to rise and are expected to rise by around $2 per litre. The amendment will increase the price of diesel to about $284.24 per liter from the current $282 per liter.
Value for money and HPG
It is important to note that the impending increase is not directly linked to the HPG proposal, although unofficial reports indicate a possible link between the increase in petrol prices and the government’s focus on the depreciation of the rupiah and the tense geopolitical situation in the Middle East. GST increase.
Instead, he pointed to the government’s discussion of raising the oil tax from the current cap of $60 to $100.
The existing tax of a maximum of $60 per liter may be reassessed, resulting in unprecedented petrol prices in Pakistan.
Current Petrol and Diesel Prices in Pakistan
The Pakistan government’s consumer prices will be implemented from April 1 as part of two crude oil price revisions proposed by the Oil and Gas Regulatory Authority (OGRA), the finance minister said in a notification. 2024.
However, the government decided to reduce the price of diesel by $3.32 per liter.
It was also announced that the increase in the price of oil products will be applied from 12 midnight until April 15.
After a significant increase, the new petrol price is $289.41 per liter and HSD is $282.24 per liter.
