Petrol prices in Pakistan to be increased further by Rs 15: report
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During the course of one week, there has been an increase in the prices of crude oil in the international market. The price of crude oil in the Gulf market has risen from $88 per barrel to $93 per barrel. According to the report, there has been a $5 increase per barrel in the price of crude oil.
As of September 1st, the price of crude oil was 25,344 Pakistani Rupees per barrel, but after these increases, it has reached 28,860 Pakistani Rupees per barrel, despite a slight decrease in the value of the US dollar against the Pakistani Rupee. If there is no further decrease in the value of the US dollar, petroleum product prices could increase by 15 Rupees per liter starting from September 16th.
This increase in crude oil prices by $5 per barrel has led to a rise of 2,742 Pakistani Rupees per barrel. Even though there has been some stability in the exchange rate of the US dollar, this increase in crude oil prices by $5 has resulted in a 15 Rupees per liter potential increase in petroleum product prices from September 16th.
The fluctuations in international crude oil prices can have a significant impact on the Pakistani economy, particularly on the cost of petroleum products for consumers.
It's crucial for the government to monitor these developments closely to mitigate the potential effects on inflation and the overall cost of living for its citizens
