Pakistan may see steep rise of Rs20/litre in petrol price in next review

News Image

MG News | February 14, 2023 at 11:36 AM GMT+05:00

0:00

February 14, 2023 (MLN): The price of petrol will likely see a steep rise by around Rs20 per litre in the upcoming fortnightly review scheduled for February 15, 2023, as The News reported on Tuesday.

The increase in petrol price will be based on international calculations of a free on board (FOB) basis, and it could lead to a rise in the exchange rate in the next review, as per sources. 

The petrol prices may rise further if the government adjusts Rs20 per litre on account of the exchange rate, which could take the price up to Rs40 per litre.

However, diesel prices are not expected to increase on FOB sans exchange rate adjustment, and it is only if the exchange rate is adjusted that diesel prices may rise in the next review.

It is reported that the government had implemented a significant increase of Rs35 per litre in the prices of petroleum products in the last fortnightly review, while no general sales tax (GST) has been imposed yet.

Despite a decrease in the international price of petrol, local consumers may not benefit from any reduction in prices due to the high exchange rate. The government had adjusted Rs14 per litre on diesel prices on account of the exchange rate in the previous review, but it is not expected to provide any relief to consumers due to the steep appreciation of the dollar.

As per news flows, several cities, towns, and villages in Punjab are facing a shortage of petrol, with the situation being blamed on petroleum dealers involved in hoarding petrol in anticipation of an expected price increase by mid-February.

The shortage of petrol has affected the daily life of the people of Punjab, with several businesses and transportation services also being impacted.

Copyright Mettis Link News 

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,640.00 120,695.00
117,255.00
-2595.00
-2.16%
BRENT CRUDE 68.90 69.17
68.85
-0.31
-0.45%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.61 66.99
66.55
-0.37
-0.55%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 15, 2025 at 09:24 AM GMT+05:00

NBP issues foreign exchange rates


July 15, 2025 at 06:16 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg