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Petroleum product prices are anticipated to increase once more later this week as a result of currency devaluation and rising global oil costs.
According to a media estimate, the cost of gasoline and high-speed diesel (HSD) could increase on September 15 by Rs. 10–14 and Rs. 14–16 per Liter, respectively, due to tax rates and import parity pricing. The cost of kerosene would also increase by Rs.
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Before sliding below Rs. 300, the rupee lost 4.5 rupees versus the dollar in the first 10 days of the current fortnight (from Rs. 299 to Rs. 304). The gains from the exchange rate were however offset by benchmark international Brent prices, which on Wednesday surpassed $92 a barrel compared to $88 in the first week of September.
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The government will also pass along to customers the 88 paisa per liter increase in selling margins for gasoline dealers and marketing firms approved by the Economic Coordination Committee (ECC) of the cabinet last week.
The sources claimed that starting September 1, the import parity price for gasoline, diesel, and kerosene had increased by 13, 14, and 10 rupees per liter, respectively.
In contrast, according to product imports from Pakistan State Oil (PSO), sale prices of the aforementioned petroleum products were anticipated to increase by 13, 16, and more than 10 rupees per liter, respectively. Additionally, jet fuel costs Rs. 10 more per liter.
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As a result, it is anticipated that the cost of gasoline and diesel will reach Rs. 320 and Rs. 325 per liter, respectively. The cost of kerosene would be more than Rs. 240 per liter.
After the impending increase in fuel costs, numerous industries in Pakistan are predicted to see higher inflation.
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