Islamabad: The prices of petroleum products may increase by over Rs32/litre from February 16 (tomorrow).
The government claimed that it is going to increase the price owing to the US dollar
The price of diesel could rise by 12.5% or by Rs32.84 to stand at Rs295.64 from Rs262.8 per litre previously.
Kerosene oil price was forecast to increase 14.8% or by Rs28.05 to stand at Rs217.88 per litre, while light diesel oil (LDO) could go up 5.3% or by Rs9.90 to stand at Rs196.90 from Rs187 per litre set in the last review.
The above prices have been assumed based on the current government taxes and estimated Pakistan State Oil (PSO) incidentals.
The government had carried out a massive increase of Rs35 per litre from February 1, 2023, till February 15.
Currently, the government is charging Rs50 per litre petroleum levy, whereas the general sales tax (GST) has not been imposed yet.
Pakistan is currently facing a short supply of petrol, with its most populous province,
It has also been alleged that hoarders were holding onto petrol stocks in anticipation of a price hike scheduled on February 15 (today).
