Petrol price likely to increase by Rs32/liter

Islamabad: The petroleum prices are expected to increase by Rs32 from February 16 (Thursday), reportedly.

According to the media reports, petroleum levy on diesel will also be increased by Rs10 per liter. Thus, the total increase will be 50 rupees per liter.

The price of petrol will increase by 12.8% to Rs281.87 and diesel will also increase by 12.8% and the price will jump from Rs262.8 to Rs295.64 per liter.

Kerosene oil will be sold for Rs217.88 per liter, whereas light diesel will be priced at Rs196.90 per liter.

These prices are based on the volume of taxes. The levy on diesel which is Rs40 per liter, will be increased by Rs10 to rest at Rs50 per liter.

The target is to generate Rs850 billion from these increases, but the shortfall in this regard is estimated at Rs250 billion.

Earlier, the government had dropped an inflation bomb on public by increasing the prices of petroleum products by Rs35 per liter from February 1 to 15.

The main reason for these hikes is the uncontrollable increase in the exchange rate of the dollar, which has become about 272 rupees.