Petrol Prices in Pakistan Likely to Rise Again From September 15

The petrol prices in Pakistan are likely to rise again from 15 September 2023 after the Economic Coordination Committee (ECC) increased the margin of petroleum dealers and oil marketing companies (OMCs).

Petrol Prices, Petrol Prices in Pakistan — Petrol Prices Likely to Rise Again From September 15

According to the details, the caretaker Government hiked the margin of petrol and diesel by Rs. 3.51 per litre after the petroleum dealers threatened of a nationwide strike over the government’s inability to keep the previous agreement.

The decision was taken in a session of the Economic Coordination Committee (ECC) chaired by caretaker Finance Minister Shamshad Akhtar.

During the meeting, it was decided to raise the petrol and diesel margin by Rs. 1.87 per litre for OMCs, while a hike of Rs. 1.64 per litre was approved for petroleum dealers. However, the caretaker Government will increase the sale margin by Rs. 0.47 per litre only for OMGs on September 15.

Meanwhile, a hike of Rs. 1.64 per litre was approved for petroleum dealers with Rs. 0.41 per litre being implemented in the first phase. According to reports, the increase in margin for petroleum dealers and OMCs coupled with depreciation of the Pakistani Rupee (PKR) may result in a rise of Rs. 10 per litre in the petrol prices in Pakistan.

Earlier, the Government raised the price of petrol by Rs. 14.91 per litre, bringing the new price at Rs. 305.36 per litre, while price of High-Speed Diesel (HSD) was jacked up by Rs. 18.44, bringing the new price at Rs. 311.84 per litre.