The price of petrol is likely to increase by Rs 20 per liter from 1st March. According to details, in the first two and a half years of the PTI government, inflation has increased day by day, and the people could not get any relief. Rising food prices daily have broken the people’s backs. In contrast, rising prices of electricity, gas, and petrol have also boosted gold, making the people more frustrated with the current ruling party.
However, now preparations are underway to impose more burden on the people who are suffering from inflation. The possibility of an increase in petroleum products is being shown on 1st March. It has been proposed to increase the price of petrol by Rs 20.7 per liter. It is proposed to increase the price of diesel by Rs 19.61 per liter. Based on the existing petroleum levy, the price of petrol and diesel will increase by Rs. 6 per liter.
The current levy on petrol is Rs 17.97 per liter, while the current levy on diesel is Rs 18.36 per liter. The proposed prices of petroleum products have been fixed based on Rs 30 per liter. Minister Imran Khan will decide to change the prices.
Earlier, due to the sharp rise in crude oil prices in the global market, there was a fear of an increase in the prices of petroleum products in Pakistan. Global crude oil prices hit a 13-month high on rising demand. The price of crude oil in the world market is currently more than 63 63 per barrel. Due to the Coronavirus epidemic, economic activities in most countries of the world came to a complete standstill after implementing the lockdown last year, due to which the demand for crude oil came to the brink of extinction.
Despite such low demand, oil-producing countries have not stopped producing oil, so the price of crude oil has fallen below zero for the first time in history. OGRA had proposed to the government increase the prices of petroleum products to Rs 14 per liter from 16th February due to the rise in crude oil prices. However, the Prime Minister yesterday rejected OGRA’s summary this month. Decided to maintain the prices of petroleum products.