The Pakistani government, which is facing a cash crunch, will increase gasoline prices by Rs 10-14 per litre. This will put a further burden on people who are already suffering from skyrocketing inflation. Citing industry sources, The News International has expressed fears about rising prices for petroleum products. According to this, “the federal government can increase the prices of petroleum products by citing the increase in oil prices in world markets.” The Pakistani government reviews oil prices every fortnight.

Contrary to the previous review, if the government also adjusts the exchange rate deficit, the increase could reach Rs 14 per litre. Last time, the government did not pass on to the public the burden of the weakening of the Pakistani rupee against the dollar. The current price of gasoline at oil depots in Pakistan is Rs 272 per litre. If the government shifts the burden of rising world oil prices to consumers, this price can rise to Rs 286.77 per litre. The government also imposes a tax of Rs 50 per liter on gasoline along with zero general sales tax. However, there is little chance that the price of high-speed diesel will change. The diesel price may fall as much as Rs 15 per liter if the government does not adjust the exchange rate deficit.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.