ISLAMABAD – The prices of petroleum products are likely to increase fromthe start of September as crisis-hit country is battling worst economiccrisis in recent time.
The surge will be a double whammy for inflation-hit people, who are alreadyon the streets against inflated electricity bills.
Reports in local media claimed that another oil surge is likely as theprice of petrol is likely to be increased by Rs12 per litre effective fromSeptember 1, 2023.
Another hike stemmed from an increase in global oil rates along withdepreciation in the value of local currency which affected the exchangerate impact.
It was reported that the price of diesel will see an increase of Rs14.83per litre.
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Petrol price has already increased by Rs37.50 and that of diesel by Rs40per litre in recent weeks.
The expected price increase will add to existing woes as petrol and dieselprices have already been jacked up by around Rs20 per litre in the previousrevision.