On August 1, 2022, the Federal Government intends to raise the cost of gasoline by Rs. 10–17 per litre.
Despite the stability of global fuel costs, reports state that an increase is anticipated because of the Pakistani rupee’s fast fall against the dollar.
According to sources, the predicted rise for gasoline is Rs. 10 per litre, whilst the expected increase for diesel is Rs. 16–17 per litre. Additionally, the price of gasoline may rise by Rs. 15 for regular gasoline and Rs. 23 for diesel if the government decides to impose the Rs. 5 petroleum levy (PL).
It is important to note that the amount listed above does not reflect the rise in dealers’ margins (DMs) that the government imposed. With the consent of the Economic Coordination Committee, the government has decided to hike DMs by Rs. 2.10 per litre for gasoline and Rs. 2.87 per litre for diesel. According to Geo News, after this hike, the cost of gasoline might climb by Rs. 17.10 per litre, while the cost of diesel could increase by Rs. 25.87 per litre.
However, industry sources claim that because the Pakistani rupee is consistently declining and was trading at Rs. 239 to the dollar, the final rate would be determined in accordance with the exchange rate.
Despite repeated guarantees of relief from the Prime Minister and Federal Ministers, sources claim that the public may not be able to obtain any respite despite stable international fuel costs. This is because of the currency rate.
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