Pakistani people are about to experience another crude oil shock as the country deals with its greatest economic crisis. According to local media sources, the cost of petrol and diesel is expected to rise by Rs. 32 a litre starting on February 16.
Petrol and Diesel prices in Pakistan to be hiked
Prices for petrol, oil, and lubricants have risen even more and are expected to hover around Rs 272 over the next two weeks. The government might be forced to raise the price of petroleum and diesel as a result.
As per official and business sources cited in publications, the price of petroleum is expected to increase by 12.8%, or PKR 32.07. This would increase the actual price from PKR 250 to around PKR 282 per litre. Diesel prices may also increase by 12.5%, or by PKR 32.84, to PKR 295.64 from PKR 262.8.
Even the cost of kerosene oil is anticipated to rise 14.8%, or PKR 28.05, to PKR 217.88 a litre.
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Pakistan Economy plummets
Following a dramatic devaluation of its currency and an increase in the price of oil imports, Pakistan’s rates for petroleum and diesel have been climbing for some time. The price of petroleum and diesel was already raised by the government by PKR 35 per litre from February 1 to February 15.
In Pakistan, the cost of other necessities such as milk and meat has also surged in addition to the price of pertoleum and diesel.
Reports pouring in have stated that milk is being currently sold to the nation’s cash-strapped population for PKR 210 per litre, while a kilogramme of chicken costs between Rs 700 and Rs 800. The price of boneless beef has risen to a peak of PKR 1,000–1,100 per kg in the meantime.
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