Monday, April 15, 2024

Petrol Price Expected to Surge by Rs 9.94 Litre for Next 15 Days

The anticipated changes in fuel prices, contingent upon government approval, are poised to impact consumers across Pakistan. According to sources familiar with the matter, adjustments are expected to commence in the first half of April, potentially resulting in significant shifts in petrol, diesel, and kerosene oil prices.

Presently, petrol is priced at Rs 272.75 per litre, HSD at Rs 285.56 per litre, kerosene oil at Rs 188.66 per litre, and LDO at Rs 168.18 per litre. However, if the proposed adjustments are sanctioned, consumers could see prices rise to Rs 289.69 per litre for petrol, Rs 284.26 per litre for HSD, Rs 188.49 per litre for kerosene oil, and Rs 168.63 per litre for LDO.

These changes are influenced by several factors, including global oil prices, currency exchange rates, and financial considerations for the energy sector. The government’s decision to adjust fuel prices is critical, as it directly impacts inflation rates, transportation costs, and overall economic stability.

The announcement of the new oil prices is anticipated to be made by the Minister of Finance, Revenue, and Economic Affairs, Muhammad Aurangzeb, following the consent of Prime Minister Shehbaz Sharif, likely late Sunday. This timing underscores the significance of government deliberations and ensures transparency in the decision-making process.

Ultimately, the proposed adjustments in fuel prices highlight the intricate balance between economic policy, energy sustainability, and public welfare. While consumers may face increased costs at the pump, these adjustments are essential for maintaining stability in the energy sector and ensuring long-term economic resilience.

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