Amid global oil rate hikes and rupee depreciation, Pakistan faces the possibility of petrol and diesel prices exceeding Rs300 per liter for the first time. An Ogra recommendation suggests a potential Rs12 increase in petrol and Rs14.83 hike in diesel prices starting September 1, 2023.
Key Points:
Depreciation of rupee by Rs12 against the US dollar contributes to the potential price surge.
Inflation rate currently stands at 28%, posing challenges for consumers.
Government under pressure due to inflated electricity bills and public protests.
Caretaker government faces IMF terms and conditions concerning fuel price fluctuations.
The looming increase could further burden citizens amidst economic challenges. Stay tuned for official announcements regarding these proposed changes.
