The Petrol Prices in Pakistan are expected to increase from 1 November 2021 due to continuous depreciation of the Pakistani Rupee against US Dollar (USD to PKR) and the hike in international oil prices.
According to The News, the Petrol Price in Pakistan is likely to increase by up to Rs. 7 per litre from November 1, while the price of High-Speed Diesel (HSD) is expected to increase by up to Rs. 9 per litre. However the final price will be determined by the price of imported oil during the next few days.
It bears mentioning, the Federal Government announced a massive increase in the Petrol Prices for the remainder of October 2021. The current Petrol Price in Pakistan is Rs. 137.79 per litre after an increase of Rs. 10.49, price of High-Speed Diesel (HSD) is Rs. 134.48 per litre after an increase of Rs. 12.44, price of Kerosene Oil is Rs. 110.26 per litre after hike of Rs. 10.95 and the price of Light Speed Diesel (LDO) is Rs. 108.35 per litre after an increase of Rs. 8.84.
The final decision regarding increase or decrease in the Petrol Prices in Pakistan from 1 November 2021 will be announced by the Finance Ministry after consultation with Prime Minister Imran Khan, based on recommendation of the Oil and Gas Regulatory Authority (OGRA).
Furthermore, the Federal Government is reportedly planning on introducing cheap petrol for motorcycle, rickshaws and public transport to provide relief to the lower and middle class citizens in the country. Information Minister Fawad Chaudhry had earlier told a local media outlet that final decision on the matter will be made soon.