ISLAMABAD – The prices of petroleum products are likely to increase from the start of September as crisis-hit country is battling worst economic crisis in recent time.
The surge will be a double whammy for inflation-hit people, who are already on the streets against inflated electricity bills.
Reports in local media claimed that another oil surge is likely as the price of petrol is likely to be increased by Rs12 per litre effective from September 1, 2023.
Another hike stemmed from an increase in global oil rates along with depreciation in the value of local currency which affected the exchange rate impact.
It was reported that the price of diesel will see an increase of Rs14.83 per litre.
Petrol price has already increased by Rs37.50 and that of diesel by Rs40 per litre in recent weeks.
The expected price increase will add to existing woes as petrol and diesel prices have already been jacked up by around Rs20 per litre in the previous revision.
