The Federal Government is planning to increase fuel prices by Rs. 10-17 per liter on 1 August 2022.
According to reports, despite stability in international fuel prices, the increase is expected due to the free fall of the Pakistani rupee against the dollar.
Sources say that the estimated increase in petrol is Rs. 10 per liter, whereas diesel prices are likely to go up by Rs. 16-17 per liter.
In addition, if the government decided to impose the Rs. 5 petroleum levy (PL), the petrol prices could increase by Rs. 15 for petrol and Rs. 23 for diesel.
It is pertinent to mention that the above amount does not include the increase in dealers’ margins (DMs) imposed by the government. Recently, the government had decided to increase DMs by Rs. 2.10 per liter on petrol and Rs. 2.87 per liter on diesel with the approval of the Economic Coordination Committee.
Including this increase, the petrol prices could increase by Rs17.10 per liter, whereas the diesel prices may rise by Rs. 25.87 per liter, reported Geo News.
However, industry sources have said that the final rate would be decided according to the exchange rate as the Pakistani rupee is continuously deprecating and stood at Rs. 239 against the dollar.
The public, after multiple assurances of relief from the Prime Minister and Federal Ministers, may not be able to receive any relief despite stability of international prices of fuel due to the exchange rate, sources said
For all the latest updates and news, visit CxO Global FORUM.