Petroleum Prices May Rise by Up to Rs 20 Per Liter: Sources

Islamabad: There is a possibility of an increase of up to Rs 20 per liter in petroleum product prices for the next 15 days, according to sources. However, the final approval will be given by Prime Minister Shehbaz Sharif.
According to Dawn News, sources indicate that diesel prices may rise by Rs 20 per liter, while petrol could become costlier by Rs 15 per liter.
It is worth noting that for the current fortnight, the government had already increased the petrol price by Rs 4.80 per liter and high-speed diesel by Rs 7.95 per liter.
Petrol is widely used in private transportation, including small cars, motorcycles, and rickshaws, meaning any price hike will directly affect the middle and lower-middle-income segments of society.
High-speed diesel powers the majority of the country’s transport sector, including trucks, buses, trains, tractors, tube wells, and threshers. Its price is considered a major factor in inflation as it directly impacts the cost of vegetables and other essential food items.
Economists warn that if such a significant increase materializes, it could trigger a fresh wave of inflation, putting additional strain on the already burdened general public. Despite occasional reductions in diesel prices, transport fares rarely see a corresponding decrease.