ISLAMABAD: In its next bimonthly review, which will take place from August 16 to 31, Pakistan is thinking about raising oil prices again because of the rise in product prices around the world.
Prices for a litre of gasoline could go up by Rs14 to Rs24.
Over the past 15 days, the price of oil on the world market has been steadily going up. This could mean that petrol prices could go up by Rs14 per litre and high-speed diesel (HSD) prices could go up by Rs24 per litre.
As part of its agreement with the International Monetary Fund, the government raised the prices of petrol and HSD by Rs20 earlier this month. The new prices will go into effect on August 1, 2023.
Moreover, In the past two weeks, the price of processed products has gone up by $13 per barrel, to $111 per barrel. This has caused the price of petrol to go up by $7 per barrel, to $97 per barrel.
While, At the moment, the government charges Rs55 per litre for gas and Rs50 per litre for HSD. If it happens, the possible price increase could change the inflation rate for August.
