Petrol Prices are expected to increase in April 2018. Let us look at the evidence supporting this statement.
Oil prices have gone up in the international market and the tension in the Middle East has risen. This will affect the Pakistani petrol, oil market as well, directly or indirectly.
Similarly, we all know about the devaluation of Pakistani rupee against US dollar. As per the CEO, and partner at Tundra Fonder Jon Scheiber Pakistani Rupee might fall prey to another round of devaluation. This again will affect not just the petrol prices in Pakistan but also other industries.
Now let us look at the year 2018 in Pakistan and how petrol prices have increased with each passing month.
Looking back at this year, in January the government increased petrol price by Rs4.06 per liter from Rs77.47 to Rs81.53 per liter, high-speed diesel price increased by Rs3.96 per liter from Rs85.95 to 89.91 per liter, light speed diesel price increased by Rs6.25 from Rs52.12 per liter to Rs58.37, superior kerosene oil price increased by Rs6.79 per liter from Rs57.58 to Rs62.30.
The Ministry of Petroleum in February 2018 again increased the petrol prices. OGRA recommended an increase in prices thus petrol prices increased by Rs 2.98, high-speed diesel price went up by Rs 5.92.
Similarly, in March 2018 OGRA suggested increasing petrol prices by Rs 3.56 per liter which again was approved by the Government of Pakistan.
All these things suggest that we can expect an increase in petrol prices in April 2018 as well. There is a whole cycle of events going on since Jan 2018. OGRA recommends an increase in petrol prices to the Ministry of Petroleum, they approve it, the opposition criticizes the whole stance and then by the end of every month the whole story repeats.
A government is made to serve its people, not make life difficult for them with each passing month.