Ahead of the general elections on February, the price of petroleum products in the country is expected to increase.
According to the report of The News, after the continuous reduction in the price of petroleum products, this time there is a strong possibility that the caretaker government will increase the price of petrol and diesel.
According to the report, the caretaker government may increase the prices of petrol and diesel by Rs 7 per liter from January 31 to February 15. will be done
If there is an increase in the price of petroleum products, it will be the first increase after November 1, 2023.
Experts who monitor petroleum products say that the situation will be different this time because the price of oil has increased due to attacks on ships in the Red Sea by the Houthi rebels in the Middle East over the past week. The increase in the price of oil will also affect the price of petrol and diesel in Pakistan.
In the international market, the price of petrol has increased from 83 dollars to 89 dollars in the last one week, while the price of high speed diesel has also increased from 93 dollars to 97 dollars per barrel. Crude oil has also increased from $76 to $80 per barrel.
Experts say that the price of petrol and diesel in Pakistan is expected to increase less due to the stabilization of the rupee against the US dollar, otherwise the price of petroleum products could have increased more.