Diesel Set to Rise Above Rs 200/litre For The First Time In History On The Back Of Soaring Crude Oil Prices, Country Details Here
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The price of diesel is set to cross Rs200 per litre for the first time in history on the back of soaring crude oil prices in the global market and sharp depreciation of the rupee against the
US dollar.
In the second fortnight of current month starting April 16, the newly formed government in Pakistan would be required to either jack up the price of diesel by Rs60.54 per litre or enhance subsidy to maintain the existing price, officials said.
If the leadership chooses to increase the price, the per-litre diesel cost will jump to Rs204.69.
Earlier, former prime minister of Pakistan Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of budget for 2022-23.
Sources pointed out that the new government would be in a critical situation and might choose not to increase prices in a bid to win over public support.
Officials said that the previous Pakistan Tehreek-e-Insaf (PTI) government had maintained petroleum prices since mid-March, which pushed up the subsidy bill for petroleum products by Rs30 billion for the first fortnight of April.
However, the decision of keeping oil prices unchanged had no legal cover as it had not been officially approved.
(Source: Pakistan Media)
