Another worrying aspect for Pakistan's already troubled populace is that the price of fuel and high-speed diesel (HSD) may rise significantly by up to Rs20 per liter.
The weakening of the Pakistani rupee versus the US dollar and minor swings in world oil prices are blamed for this sudden increase.
Estimates from oil sector businesses predict that the cost of petrol might increase by over Rs10 per liter, from the current Rs290.45 to Rs300.45 per liter, or 3.5 percent.
In addition, the cost of high-speed diesel (HSD) may increase by an astounding Rs20 per liter, or 6.9 percent, from Rs293.40 to Rs313.40 per liter.
Other petroleum products like KERO and LDO, which comprise a small portion of the country’s overall fuel consumption, are also projected to see price increases. The price of KERO might increase by Rs14 per liter, going from Rs217.15 to Rs231.15 per liter. Similar to this, the cost of LDO may rise by Rs10 per liter, to Rs208.80 from the current Rs199.79.
Fuel prices have increased significantly following a currency depreciation from Rs288.25 to Rs298.18 and an average exchange rate loss of Rs9.93 versus the US dollar over the previous 15 days.
Petroleum levies (PL) of Rs. 55 per liter for petrol and Rs. 50 per liter for HSD is taken into account in the pricing calculations. This outcome follows two evaluations in a row in which the cost of petrol increased by Rs37.50 per liter and the cost of HSD increased by Rs40.
These predicted price increases would be extremely difficult for Pakistan's already struggling populace and enterprises. It is anticipated that the scenario would have significant effects on the economic condition of the country, highlighting the importance of taking early steps to lessen the impact on the people.