Islamabad: Pakistan - As the calendar flips to October, Pakistani motorists brace themselves for another potential hike in petrol prices. According to industry insiders and economic analysts, it is anticipated that the government will announce a decrease of Rs: 15-19 per litre in the upcoming review and HSD by Rs: 9-12 per litre if the government decides to maintain the petroleum levy at Rs: 50 per litre.
The expected rise in petrol prices comes as a result of fluctuations in global crude oil rates and the depreciating value of the Pakistani rupee against the US dollar. These factors have led to an increase in import costs for petroleum products, forcing authorities to consider passing on this burden to consumers.
If implemented as expected, this will mark yet another surge in fuel prices within a short span of time. Earlier this year, Pakistan witnessed multiple consecutive increases due to rising international oil prices and market volatility caused by geopolitical tensions. As a result, commuters already grappling with high transportation costs and inflation are likely to face further financial strain. The anticipated petrol price hike has sparked concerns among the public, with many expressing frustration over the government's inability to control fuel prices and provide relief to the common man.
In response to these concerns, authorities have assured citizens that they are exploring various options to mitigate the impact of rising oil prices. One possible solution being considered is revising the petroleum levy structure in a way that provides some cushioning for consumers. Additionally, efforts are underway
