Petrol prices in Pakistan are likely to be increased in May 2022
ISLAMABAD: The government is expected to take an important decision today regarding the petrol prices in Pakistan, and the increase in prices of petroleum products. According to the details, the prices of petroleum products are likely to increase. Sources said that an important decision regarding the prices of petroleum products is expected today. Sources said that the devaluation of rupees is also the reason for the increase in the prices of petroleum products. The final decision on the prices of petroleum products will be taken in consultation with the Prime Minister.
Sources said that the subsidy on petroleum products could be phased out and the prices of petroleum products would be increased by phasing out the subsidy.
Sources said that OGRA has informed about the increasing subsidy on petroleum products, the government gives a subsidy of Rs 29.60 per liter of petrol and from May 16 this amount will reach Rs 45.14 per liter of petrol.
Sources said that the subsidy on diesel is currently Rs 73.4 paisa per liter, from May 16 the subsidy on diesel will reach Rs 85 85 paisa, similarly, the subsidy on kerosene is Rs 43 16 paisa per liter, and from May 16 on kerosene per liter. The subsidy will be Rs 50.44.
Sources said that the current subsidy on light diesel oil is Rs 64.70 per liter, from May 16 the subsidy on light diesel will be Rs 68 per liter.
According to sources, if all the subsidies are abolished then petrol will have to be increased by Rs 45 to 15 paisa per liter and by abolishing the entire subsidy petrol will be Rs 195. Thus, with the complete abolition of subsidy, diesel will reach Rs 230 per liter, kerosene Rs 176, and light diesel Rs 186 per liter 31 paisa.