Fuel Prices: How Much Will Petrol and Diesel Cost?

(Digital Itla) The government is likely to increase the prices of petrol and diesel. According to sources, petrol is expected to become costlier by 13 PKR per liter, while diesel prices may rise by 14 PKR per liter. Prime Minister Shehbaz Sharif will give the final approval regarding the prices of petroleum products.

The Petroleum Division will announce the new prices tonight. Previously, sources indicated that while diesel would be made more expensive, citizens would receive some relief through a reduction in petrol prices. Notably, last week the government increased the price of petrol by over 1 PKR, bringing the new price of petrol to 398.75 PKR per liter.

"Removing Levy Would Significantly Lower Prices," says Petroleum Minister

Earlier, Minister for Petroleum Ali Pervaiz Malik stated that if the levy on petroleum products were abolished, prices would drop significantly. However, removing the levy would require the government to arrange alternative sources of revenue, as national expenses must either be met through the levy or the public has to bear the burden of inflation instead.

Speaking at a meeting of the National Assembly's Standing Committee on Petroleum, chaired by Syed Mustafa Mahmud, Ali Pervaiz Malik mentioned that the government had to make difficult but necessary decisions during the crisis arising from the US-Israel-Iran conflict. He noted that if fuel had run out even at a single pump, it could have triggered a critical situation. He added that several countries had to deploy their militaries during fuel crises, and refined petroleum products in the global market remain more expensive today than they were before the conflict.