The sources say that the government may increase the prices on the grounds that oil prices were high in the global markets.
KARACHI: (UrduPoint/Pakistan Point News-April 15th, 2023) The prices of petroleum products are likely to go up by Rs10-14 per litre for the next two weeks.
The sources said the government could increase the price of petroleum products saying that the prices of oil were high in the global markets.
The current ex-depot price of petrol is Rs272 per litre, which may go up to Rs286.77 per litre if the government decides to pass on the impact of global oil prices and exchange rate losses.
The increase can jump to Rs14 per litre if the government also adjusts the exchange rate losses, unlike the previous review when the authorities didn’t pass on the impact of rupee devaluation to the masses.
The ex-depot price of petrol has clocked in at Rs14.77 per litre for the next review of the prices with the exchange rate loss adjustment as per the working of the country’s oil sector,
The petrol price would still face an increase because of higher global oil prices. The expected raise in the price of petrol is based on the present rate of taxes.
The government is charging an Rs50 per litre levy on petrol with zero general sales tax.
The expected rise in the price of petrol is based on an Rs5 per litre exchange loss adjustment of Pakistan State Oil (PSO), which is due to the government as it didn’t include the exchange rate adjustments in the past to keep the prices of the petrol on the lower side.
