Petrol prices are expected to see a hike across the country following the increase in the US dollar exchange rate. The expected rise is up to rupees seven.
The price of oil has seen a rise internationally in all the foreign markets over the last twenty days and Pakistani rupee has also seen devaluation against the US dollar.
As per the industry sources due to the present circumstances both in the interbank and international markets, there is a possibility that petrol prices may witness an increase by rupees seven per litre.
According to the sources, there are chances that the price of diesel may also increase by rupees five and kerosene oil may also encounter a hike by six rupees per litre.
The prevailing situations may persuade the government to increase the prices on the petroleum products, however, the final decision is yet to be taken by the federal government.
Last month already the prices of both petrol and diesel were increased by rupees 2.49 and rupees 5.19, respectively.
The present market situation internationally relating the petroleum prices-the per litre increase within the country is unavoidable for the government.
Increased rates on petroleum-products would for sure be a troubling news for the local citizens who already struggles hard to meet their ends meet.
The new year is just a few days apart and even before it’s here such newsies like price hikes are already meeting the ears which is not that positive but let’s just hope and pray that may the price hike be limited and may not affect the public that badly.