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Pakistan likely to increase petrol price by up to Rs15 per litre from September 16

10:24 AM | 13 Sep, 2023
Pakistan likely to increase petrol price by up to Rs15 per litre from September 16
Source: File Photo

Inflation-weary Pakistanis may witness another round of petroleum price hikes by up to Rs15 per litre for the second half of September 2023, as global commodity prices continue to rally.

Media reports quoting well-informed sources claimed that interim government could announce a price hike as global oil prices continued to increase, now touching a 10-month high as supply shrinks, other than the devaluation of local currency.

International benchmark Brent futures hovered around $92.14 a barrel, while US West Texas Intermediate crude saw marginal gains, touching $88.98 a barrel. The surge in oil rates brings prices to levels last seen in November 2022.

Meanwhile, the government has not announced any update for expected price revision, and the decision will be finalised in recent meetings.

The current rate of petrol stands at Rs305.36 while the high-speed diesel price is Rs311.84 after last revision. In the recent past, the federal govt has been increasing fuel prices every 15 days.

If the above-mentioned hike is approved by government, the new price of petrol will touch Rs320 per litre mark. In the recent past, the federal govt has been increasing fuel prices after every 15 days.

The government is charging a record petroleum levy on petrol and on High-Speed Diesel.

Meanwhile, the potential fuel price hike will fuel sky-high inflation in the crisis country where people are battling for food and other basic commodities.

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 10 Dec 2023

Pakistani rupee remains largely stable against the US dollar, and other currencies in the open market on Sunday.

Dollar Rate in Pakistan Today

On Sunday, the US dollar was being quoted at 283.4 for buying and 285.95 for selling.

Euro comes down to 307 for buying and 310 for selling. British Pound rate remains unchanged at 358.5 for buying, and 362 for selling.

UAE Dirham AED witnessed slight drop and new rate stands at 77.2 whereas the Saudi Riyal remained stable at 76.

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 283.4 285.95
Euro EUR 307 310
UK Pound Sterling GBP 358.5 362
U.A.E Dirham AED 77.2 78
Saudi Riyal SAR 76 76.8
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 755.82 763.82
Canadian Dollar CAD 209 211
China Yuan CNY 39.82 40.22
Danish Krone DKK 41.14 41.54
Hong Kong Dollar HKD 36.37 36.72
Indian Rupee INR 3.41 3.52
Japanese Yen JPY 1.39 1.45
Kuwaiti Dinar KWD 922.14 931.14
Malaysian Ringgit MYR 60.82 61.42
New Zealand Dollar NZD 175.33 177.33
Norwegians Krone NOK 26.12 26.42
Omani Riyal OMR 738.71 741.76
Qatari Riyal ‎QAR 78.07 78.77
Singapore Dollar SGD 211 213
Swedish Korona SEK 27.32 27.62
Swiss Franc CHF 324.5 327
Thai Bhat THB 8.08 8.23

Gold price drops in Pakistan; Check out today gold rates here

Gold prices decreased in local markets in line with the trend in the international market.

Gold Rates in Pakistan Today - 10 December 2023

On Sunday, the price of a single tola of 24-karat gold stands at Rs216,300, and 10 grams of 24k gold costs Rs185,450.

Single tola of 22 Karat Gold price costs Rs198,274, 21 karat rate per tola costs Rs189,263 and 18k gold rate is Rs162,225 for each tola.

In the global market, gold prices hovers around $2,004 per ounce, after drop of $23.35 on Sunday.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 216,300 PKR 2,486
Karachi PKR 216,300 PKR 2,486
Islamabad PKR 216,300 PKR 2,486
Peshawar PKR 216,300 PKR 2,486
Quetta PKR 216,300 PKR 2,486
Sialkot PKR 216,300 PKR 2,486
Attock PKR 216,300 PKR 2,486
Gujranwala PKR 216,300 PKR 2,486
Jehlum PKR 216,300 PKR 2,486
Multan PKR 216,300 PKR 2,486
Bahawalpur PKR 216,300 PKR 2,486
Gujrat PKR 216,300 PKR 2,486
Nawabshah PKR 216,300 PKR 2,486
Chakwal PKR 216,300 PKR 2,486
Hyderabad PKR 216,300 PKR 2,486
Nowshehra PKR 216,300 PKR 2,486
Sargodha PKR 216,300 PKR 2,486
Faisalabad PKR 216,300 PKR 2,486
Mirpur PKR 216,300 PKR 2,486

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