In a twist that spells trouble for Pakistani commuters, the prices of petrol and diesel are poised to climb come April 2024. This anticipated spike is attributed to two main factors: the global upswing in oil rates and the government’s decision to hike levies on all petroleum oil lubricants (POLs).
According to insider sources, the populace is in for a fresh blow, with petrol prices expected to soar by up to Rs. 8 per liter. This means that from April 16 onwards, the price at the pump could reach around Rs. 298 per liter, marking a significant increase from the current rate of Rs. 289.40 per liter.
Here’s a glimpse of the expected petrol prices in Pakistan for April 2024:
| POLs | Current Price | Expected Price | Difference |
|---|---|---|---|
| Petrol | Rs. 289.40 | Rs. 298 | Rs. 8 |
| Diesel | Rs. 282 | Rs. 284.24 | Rs. 2.24 |
But the surge doesn’t spare diesel either, with projections indicating a hike of approximately Rs. 2 per liter. This translates to a new rate hovering around Rs. 284.24 per liter, up from the existing Rs. 282.
While some unofficial reports suggest that the government’s decision is fueled by rupee devaluation and geopolitical tensions in the Middle East, it’s important to note that the increase isn’t directly tied to IMF recommendations for a GST hike. Instead, attention is drawn to the potential escalation of petroleum levies, expected to climb from the current maximum of Rs. 60 to a staggering Rs. 100 per liter. Should this materialize, Pakistan could witness record-high petrol prices.
In essence, as April 2024 approaches, Pakistani citizens are urged to prepare for the impending surge in fuel costs. Stay informed and plan your travels accordingly as we navigate through these turbulent times on the roads.
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