As September unfolds, Pakistan braces itself for a substantial and unwelcome development on the economic front—another looming surge in petrol prices. Set to take effect from September 16, this increase threatens to add significant financial strain to the nation’s citizens.
Another petrol bomb
Recent decisions by the caretaker government have greenlit price hikes for both petrol and diesel, pushing petrol prices beyond the historic Rs300 per litre milestone for the first time in Pakistan’s history. The impending price hike will see the ex-depot cost of petrol climb from its current level of Rs305.36 to a daunting Rs321.35 per litre.
Within the oil sector, experts predict a challenging fortnight ahead in September, with projections pointing to a substantial rise of Rs15.99 per litre for petrol, Rs13.66 per litre for high-speed diesel (HSD), Rs8.79 per litre for kerosene oil, and Rs4.45 per litre for light diesel oil (LDO). These calculations hinge on government-imposed taxes, including a petroleum levy (PL) of Rs55 per litre on petrol and Rs50 per litre on HSD—a move that aligns with conditions set by the International Monetary Fund (IMF).
Also read: Amid Rising Petrol Prices, “Made In Pakistan” E-Motorbikes To Cut Down Fuel Costs By 70%
The impending petrol price surge, alongside increases in diesel and other petroleum products, underscores the financial challenges facing Pakistan as it navigates a complex economic landscape. Citizens will undoubtedly feel the pinch as they grapple with these rising costs.
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