With devaluation of the local currency against US Dollar (USD) and the rising price of international oil, the petrol prices in Pakistan are expected to increase from the next fortnight on September 15, 2023.
According to reports, the price of petrol could increase by up to Rs. 14 per litre, while the price of high-speed diesel (USD) could be jacked up by Rs. 16 per litre, which would bring the price of these commodities to another all-time high in the country of the country.
It is pertinent to mention that price of international Brent has rose from $88 to $91 per barrel on Wednesday, which would affect the petrol prices in Pakistan. Furthermore, the Pakistani Rupee (PKR) also depreciated to as low as Rs. 307 before finally recovering and falling below Rs. 300 again.
In addition to these factors, the government also needs to account for the increase in margins for petroleum dealers and oil marketing companies (OMCs), which was approved by the Economic Coordination Committee (ECC).
During the last fortnight, the Government raised the price of petrol by Rs. 14.91 per litre, bringing the new price at Rs. 305.36 per litre, while price of High-Speed Diesel (HSD) was jacked up by Rs. 18.44, bringing the new price at Rs. 311.84 per litre.
Current Prices in Pakistan From 1 September 2023
|PRODUCT||OLD PRICE (PKR)||NEW PRICE (PKR)||CHANGE (PKR)|
|High Speed Diesel (HSD)||293.40||311.84||+18.44|