ISLAMABAD – The Pakistani government has announced that petrol prices are expected to rise further from September 16, 2023. This decision comes as the government plans to increase the margin for petroleum dealers and oil marketing companies (OMCs).
According to local media reports, the Economic Coordination Committee (ECC), chaired by Caretaker Finance Minister Shamshad Akhtar, has approved an increase in the sale margin of petrol and diesel by Rs1.87 per litre for OMCs. This move is likely to result in a price hike for petrol and diesel in the next fortnight.
This decision follows last month’s significant surge in petrol prices, where the interim government increased the price of petrol by Rs14.9 per litre. Consequently, the price of petrol reached a record high of Rs305.36 per litre. Similarly, the price of high-speed diesel (HSD) was increased by Rs18.44.
Despite the substantial increase last month, the government has decided to allow a further increase in the sale margin. However, this time, the Kakar-led government has opted for a more moderate approach, with a proposed increase of Rs0.41 per litre for dealers for the second half of the current month.
The anticipated rise in petrol prices is part of a broader trend of increasing fuel costs in Pakistan. These escalating prices have significant implications for the country’s economy and the daily lives of its citizens. As the government continues to adjust the margins for petroleum dealers and OMCs, the public will be closely monitoring these developments.