Fuel prices – will the month end on august note?
Pakistan
Fuel prices – will the month end on august note?
LAHORE (Web Desk) – More trouble seems in store for the masses as Rs10 to 15 per litre increase in the prices of petroleum products is on the cards.
The caretaker government finds itself in a difficult position as it has to increase the fuel prices in the wake of spike in international cost and at the same time, manage growing public anger against biting inflation.
It has already shared with the IMF a report based on demand for relief people want in electricity bills. The hapless people have been protesting against exorbitant power bills for the last six days.
According to sources, the price of diesel may increase by Rs14 per litre while petrol prices are expected to increase by Rs10 per litre.
Read more:Rs17.50 per litre spike - all-time high petrol prices put a strain on the masses
The Ministry of Finance will accord approval to increase the prices of petroleum products in consultation with the caretaker prime minister. The price increase will be for the next 15 days.
Earlier, the caretaker government increased the price of petrol by Rs17.50 per litre, taking it to a record high of Rs290.45 per litre, Dunya News reported.
The petrol price is already unprecedented in the history of the country, taking the inflation to an upward trajectory.
Other than that, the price of high speed diesel was also increased by Rs20 per litre. After the increase, high speed diesel was available at Rs293.40 per litre.
Another problem people face is shortage of fuel at most filling stations in anticipation of change in fuel prices. Long queues for fuel are a common sight ahead of price change every fortnight.
