Petrol Prices in Pakistan Increasing from 1st September 2022
The coalition government is expected to raise Petrol prices in Pakistan from 1st September 2022 by imposing higher sales taxes on these goods in a bid to revive a stalled $6 billion loan program at the International Monetary Fund (IMF).
According to the details, the federal government is expected to raise the price of gasoline in Pakistan by Rs. From September 1, $20 a liter, through a sales tax increase, will meet a prerequisite for the International Monetary Fund (IMF) to resume its loan bailout program. In addition, the government is expected to remove sales tax exemptions for petroleum products in the agricultural sector starting next month, which could lead to another wave of inflation in the country. Authorities are considering a 10.5 percent sales tax on petroleum products from October under conditions set by the International Monetary Fund (IMF).
It is worth mentioning that the government has removed subsidies for oil products as directed by the International Monetary Fund (IMF), which has created a wave of inflation in the country. On August 15, the government raised the price of gasoline in Pakistan despite a drop in crude oil prices in the international market and a sharp recovery in the Pakistani rupee against the US dollar (USD/Pakistan Rupee). Petrol prices rose by Rs. 6.72 per liter, while diesel prices have only been cut by Rs. 0.51 per liter. This brings the price of gasoline in Pakistan to Rs. 233.91 per liter, high-speed diesel is priced at Rs. 244.44 per liter, kerosene price is Rs. 199.40 per liter, and Light Diesel (LDO) to Rs. 191.75 per liter.
Current Petrol Prices in Pakistan W.E.F 16 August 2022
| PRODUCT | PRICE (PKR) |
|---|---|
| Petrol | 233.91 |
| High-Speed Diesel (HSD) | 244.44 |
| Kerosene Oil | 199.40 |
| Light Diesel Oil (LDO) | 191.75 |
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