Over the next two weeks, there is a possibility that the cost of gasoline and diesel could experience a significant rise of approximately Rs 24 per liter. This potential increase comes as the country navigates a challenging situation prompted by demands from the IMF.
According to reports from local media, starting from August 16, 2023, there might be a noteworthy surge of Rs 24 per liter in the price of diesel. This impending price adjustment has the potential to exacerbate an already complex scenario due to existing high levels of inflation. Additionally, there is a potential upward adjustment of around Rs 12 per liter in the price of petrol.
Check Out Latest Price from August 16: https://startuppakistan.com.pk/massive-increase-in-petrol-diesel-prices-announced-by-govt-in-pakistan-herere-the-latest-rates/
This anticipated price surge could compound the existing difficulties, especially considering the recent history where both petrol and diesel prices escalated by approximately Rs 20 per liter.
The driving force behind the government’s recurrent increases in petroleum product prices lies in the pressure exerted by the International Monetary Fund (IMF), which is responding to the upward trajectory of costs.
Notably, there has been a substantial upward movement in the prices of refined petroleum products, with the cost per barrel escalating from $13 to $111.
