Posted 4/15/2024, 2:40:19 AM
Pakistan Braces for Sharp Fuel Price Hike Despite Currency Gains
- Petrol and diesel prices in Pakistan likely to increase by Rs2.50-2.80 and Rs8-8.50 per litre respectively on April 15
- Price hike despite drop in import premium and stronger Pakistani rupee
- Increase driven by $4 and $4.50 per barrel rise in international petrol and diesel prices
- Government already collecting maximum allowed petroleum levy of Rs60 per litre
- Pakistan targeting Rs920 billion in total petroleum levy collection in current fiscal year, after Rs475bn in first half
