ISLAMABAD – The prices of petroleum products are likely to go up from tomorrow (April 16) in wake of rising oil prices in the international market.
The already distressed people will face a major blow as the prices of petroleum products are expected to increase by Rs10-14 per litre for the next fortnight.
In the last fortnight review, the petrol prices remain unchanged but the soaring prices in the international market and further depreciation of local currency would affect the prices of the basic commodity.
As of now, the price of petrol is Rs272 per litre, which is expected to climb up to Rs286.77 per litre in the aftermath of global oil prices. Currently, the government is charging an Rs50 per litre levy on petrol with no GST.
Meanwhile, the price of high-speed diesel is expected to remain unchanged.
Petrol subsidy for bike owners
The government subsidy plan to make petrol cheaper for two-wheelers and hatchback vehicles has hit a roadblock as dealers are not confident to participate. Several other factors are also blocking the implementation of the subsidy.
The government is also trying not to irk IMF as global lender earlier expressed reserves over the cheap petrol.
