Petrol Prices to Increase by Rs 5 to Rs 6 per liter in June – Research Snipers

Petrol Prices to Increase by Rs 5 to Rs 6 per liter in June

petrol

Petrol prices are expected to increase by Rs 5 to Rs 6 per liter from June. An increase in petrol price is expected as the price of crude oil and diesel has increased in the global market.

Media reports suggest that an increase by Rs 5 to Rs 6 per liter is expected at petrol prices from next month.

As per an industry source, the petrol price will increase by Rs 6 per liter and High Octane price is expected to increase by Rs 8 per liter.

As per sources, due to the devaluation of rupee against dollar, the petroleum prices in Pakistan will get affected.

Read more: Economic effects of devaluation of rupee against the dollar

In 2018, in almost all the months the government increased petroleum prices making life difficult for the commuters. Increase in oil prices and increase in dollar price are the two key factors that have compelled the government to increase petroleum product prices.

It is pertinent to mention here that by May 31st a caretaker government will be set up in Pakistan. This government will be responsible to hold the next upcoming elections and decide the petroleum product prices for June 2018. Pakistan General Elections 2018 will be held on July 25th, as per the media reports. A summary has been sent to President Mamnoon Hussain by Prime Minister Shahid Khaqan Abbasi to confirm this date. As per the Election Commission of Pakistan (ECP), approx Rs20 billion will be spent on the General Elections 2018. Rs2.5 billion will only be spent on purchasing, printing, and distribution of the special ballot papers, Rs 6 to Rs 7 billion on the remuneration of election duties, and Rs 1 billion is allocated for the security.