KARACHI – Inflation-weary Pakistani brace for another hike in petrol and diesel prices, which would add further strain to household budgets already stretched by a plethora of financial woes.
As per available information, petrol is likely to become costlier by Rs6.60 per liter, while diesel may increase by Rs5.27 per liter. If these hikes are implemented, petrol will soar to Rs273. per liter and diesel to Rs278, hitting one of the highest levels in recent months.
This expected surge comes amid combination of local and global economic challenges. The depreciation of Pakistani rupee and adjustments in Petroleum Levy (PL) are major factors behind the hike, directly influencing fuel pricing structures.
While public faces rising costs at pump, a slight silver lining may be the expected reduction in prices of other petroleum products. Kerosene oil could see a decrease of Rs. 3.74 per liter, and light diesel oil (LDO) might drop by Rs. 2.23 per liter. However, this relief is minimal compared to the hit on petrol and diesel users — particularly those in transport and agriculture.
Globally, crude oil prices surged beyond $71 per barrel as US President Donald Trump’s statement threatening stricter sanctions on Russia if it continues its military campaign in Ukraine.
