Islamabad: Pakistan's citizens are likely to face another crude shock as the country faces its worst economic crisis in decades. According to local media reports, petrol and diesel prices will likely rise by Rs 32 per litre beginning February 16.
Petroleum, oil, and lubricant prices have risen further and are expected to remain around Rs 272 for the next two weeks. This may force the government to raise gasoline and diesel prices again.
The price of gasoline is expected to increase by 12.8%, or PKR 32.07, according to official and industrial sources cited in reports. The effective price would rise from PKR 250 to almost PKR 282 per litre as a result. Similar to gasoline, diesel prices could increase by 12.5%, or by PKR 32.84, to PKR 295.64 from PKR 262.8.
Even the cost of kerosene oil is anticipated to go up 14.8%, or by PKR 28.05, to PKR 217.88 per litre.
Due to a sharp decline in the value of its currency and an increase in the price of oil imports, Pakistan's prices for gasoline and diesel have been rising for some time. Earlier, from February 1 to February 15, the government raised the cost of gasoline and diesel by PKR 35 per litre.
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In Pakistan, the cost of other necessities such as milk and meat has also skyrocketed in addition to the price of gasoline and diesel.
According to reports, milk is currently sold to the nation's cash-strapped citizens for PKR 210 per litre, while a kilogram of chicken costs between Rs 700 and Rs 800. The price of boneless meat has risen to a high of PKR 1,000–1,100 per kilo in the meantime.
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