The consumers may face increase in price of petrol by Rs 8 per liter

Ibn-e-Ameer

The government is likely to increase the price of petrol by over Rs 9 per liter in Pakistan effective from March 1, 2022.

The government has already made a massive increase in the price of petrol from February 16 that took its price Rs159.86 per liter.

Now, another increase of over Rs 9 per liter is likely from March 1, 2022.

The proposed increase in the price of petrol

Today, Petrol is available at a price of Rs159.86 in Pakistan.

The proposed increase will take it further to around Rs 169 per liter.

Consumers use Petrol as an alternative to compressed natural gas (CNG) in small cars and motorbikes. In Punjab, consumers have already been by expensive CNG as retail outlets use imported gas LNG.

The increase in the price of petrol will have a direct impact on the lives of the low-income groups who are already facing massive inflation.

Price of diesel in Pakistan

At present, the price of diesel in Pakistan stands at Rs 154.15 per liter after a massive hike from February 16.

There is another increase in the price of diesel by over Rs 8 per liter in the price of diesel in Pakistan due to fluctuation in global oil prices.

Furnace Oil Prices in Pakistan increased over Rs 9000 per ton

The consumers of agriculture and transport sectors use this fuel and therefore any increase in the price of diesel would impact their lives.

This fuel is used in the transport and agriculture sectors. Therefore, an increase in the price of HSD will have a direct inflationary impact on the masses who are already reeling under high inflation.

The government increased the price of HSD by Rs9.53 per liter. Its price has gone up from Rs144.62 per liter to Rs154.15.

After another possible increase, its price may go up to over Rs 162 per liter.

The government claimed in mid of February that it was facing a Rs 35 billion revenue loss on account of petroleum levy and general sales tax.

However, all governments had never clarified why they were charging double tax on petroleum products to fleece money from the Pakistani consumers.

The government may also increase the price of kerosene oil and light diesel oil by Rs 8 per liter and Rs 7 per liter respectively.