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Saturday, October 1, 2022

Petrol Prices Expected to Increase by Rs. 27 per Liter from 16 April 2022

The Federal Government of Pakistan lead by Shehbaz Sharif may raise petrol prices in Pakistan by Rs. 27 per litre beginning April 16, 2022 to reach record high of Rs. 176 per liter.

If the increase is approved, the new Petrol Prices in Pakistan will go into effect on April 16, 2022, and will be valid until the end of the month. Furthermore, this will be a record increase in petroleum prices in the country’s history.

PM Imran Khan address to the Nation. Petrol, Diesel price reduced by Rs. 10 per liter, Electricity price reduced by Rs.5 per unit.

It is worth noting that the government reduced petrol prices in Pakistan by Rs. 10 per litre on the orders of ex-Prime Minister Imran Khan, who promised that prices would not be raised until the next fiscal budget was released in March 2022. The sudden and unexpected move increased the popularity of past PTI government.

The current Petrol Price in Pakistan is Rs. 149.86 per litre, High-Speed Diesel Price is Rs. 144.15 per litre, and Kerosene Oil and Light Diesel Oil (LDO) Prices are Rs. 125.56 per litre and Rs. 118.31 per litre, respectively. It is worth noting that the Finance Division stated that the government will bear an additional burden of Rs. 33 billion for the fortnight (1-15 April, 2022) in order to keep prices at their current levels.

Most Fuel Efficient cars in Pakistan (660 cc)

Prime Minister Shehbaz Sharif and the Opposition-led government will now make the final decision on petroleum prices. It will the most difficult decision by the new government as the new Government came to give relief to the nation. In the first attempt government increased the salaries and pensions to support the lower and medium class families.

It is worth noting that global crude oil prices have dropped below $100 per barrel for the first time since March 16, 2022. However, because fuel is imported into the country, it will take time for the effect to be felt locally.

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