The incumbent government is likely to hike the prices of petroleum products up to Rs20 per litre.
According to reports oil refineries warned of a looming petrol crisis, besides the change in petrol prices in the international market.
Also Read: Nawaz Sharif worried over increase in Petrol Prices says Rana Sanaullah
It was reported that hike in petrol price was based on the international price of petroleum products. There is speculation in public government carried out the massive increase of Rs35 per litre last month, increasing petrol price to Rs249.80 per liter; high speed diesel Rs262.80 per liter; kerosene oil Rs189.83 per liter; and light speed diesel Rs187 per liter.
As of now, Rs50 per litre was charged on petroleum levy and no general sales tax (GST) has not been imposed yet.
If Government increases Petrol Prices by 20 Rupees then new Price of Petrol will be 269 rupees Per liter.
Remember that Pakistan is currently facing a shortage of petro.Punjab’s Major and smaller cities, towns and villages do not have the fuel, which was also being blamed on petroleum dealers.
Last week, sources said that other than the low import of petrol by majority of OMCs, petroleum dealers were having a field day and were involved in the hoarding of petrol in view of the expected increase in prices by mid-February.
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