Petrol Prices May Increase By 9 Rupees
2020 just keeps getting worse. The world is in the midst of fighting a pandemic, individuals, companies, businesses have suffered. Pakistanis were taken aback by the announced budget and continuous increase in petrol prices. It is expected to happen again as the petrol prices may rise by Rs 9. The media reports stated that this increase will be in effect from August 1st, 2020 and onwards.
Oil and Gas Regulatory Authority sent a summary to the Finance Ministry a couple of days ago. It is worth mentioning that the government of Pakistan increased the petrol prices by Rs. 25.58 per liter. The notification by the Finance ministry also stated that the price of high diesel was increased by Rs21.31. The price of Kerosene oil and light diesel were increased by Rs23.50 and Rs17.84. The Finance ministry tried to justify the increase in petroleum products by saying, “in the view of rising oil prices in global market.” The government decides the prices according to the rate the crude oil is imported on.
The government has always been criticized for constant and unexpected hikes in petrol prices. With everything going on in the world, Pakistan has been suffering a lot as well. The auto industry has been in the waters for months now. The continuous petrol price bombs are not doing any good to the citizens of Pakistan. Buying a car has already become more expensive and people will be even more reluctant due to the hefty petrol payments that one has to spend money on when they own a car.
It is far better for the country if the government keeps the prices under a level and makes sure that citizens are somewhat comfortable with the cost they have to pay every time they visit a petrol station and get fuel for their car.