Prices of petroleum products likely to rise by Rs 9.59 per liter

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The possibility of increase in the prices of petroleum products is being shown once again across Pakistan. According to private TV channel Express News, after the Russian invasion of Ukraine, prices of petroleum products in Pakistan are likely to increase further by Rs 9.59 per liter with effect from March 1, 2022.

It may be mentioned here that the government had increased the prices of petroleum products by a record Rs 12.03 per liter, which was implemented from February 16. On February 16, the price of crude oil was 94 94 a barrel a day. The Russian invasion of Ukraine led to a rise in prices, which for the first time since 2014 exceeded 100 100 a barrel. According to industry experts, Russia launched an aggression against Crimea in 2014 when it raised funds through petroleum products. May try to bring down the prices of petroleum products to the detriment of Russian revenue.

One idea is that the United States may ease sanctions on Iran to allow it to sell oil on the world market, bringing the price of gasoline back to 65 65 a barrel, but with Iran and Russia. Relationships are long, so this option seems difficult to implement. Experts say that if the current situation is not resolved immediately, the price of crude oil in the world market could go up to 125 125 per barrel.

Economists fear that in such a case the price of petrol in Pakistan could go up to Rs 200 per liter, which would cause severe hardship to Pakistani consumers and directly affect low-income households. Those who are already in trouble. There is also a possibility that the price of petrol will increase by Rs9.59 per liter after which the new price of petrol will be Rs169.45 per liter. Similarly, the price of high speed diesel is likely to increase by Rs8.52 per liter, after which the new price of high speed diesel will be Rs162.67 per liter.

Location: Pakistan

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