KARACHI: It is likely that the prices of petrol may witness an uptick of Rs20 per litre in this fortnightly.
The government had carried out a massive increase of Rs35 per litre in the last fortnightly review of fuel prices. Currently, the government is charging Rs50 per litre petroleum levy (PL) whereas general sales tax (GST) has not been imposed yet.
The price of petrol may further increase provided the foreign exchange rate was adjusted in the next review, the sources mentioned.
They further said that the exchange rate was on the higher side, which would deprive the local consumers of any benefit or reduction in the prices of petroleum products.
The prices of petrol in the international market have decreased, but the steep depreciation of the rupee against the dollar has eroded the gains to detriment of domestic consumers.
