According to The News, the prices of petroleum products in Pakistan may increase by over Rs32/litre from February 16 due to the US dollar exchange rate.
The Mogas price is expected to go up by 12.8% per litre or by Rs32.07 to stand at Rs281.87 from Rs249.8 per litre, while the price of diesel could rise by 12.5% or by Rs32.84 to stand at Rs295.64 from Rs262.8 per litre previously.
Kerosene oil price was forecast to increase 14.8% or by Rs28.05 to stand at Rs217.88 per litre, while light diesel oil (LDO) could go up 5.3% or by Rs9.90 to stand at Rs196.90 from Rs187 per litre set in the last review.
These prices are based on current government taxes and estimated Pakistan State Oil (PSO) incidentals.
The government may adjust the exchange rate at over Rs251 with an increase of Rs15 per litre for both Mogas and diesel products.
The petroleum levy for diesel which stands at Rs40 could also increase by Rs10 to Rs50 from February 16.
The government had imposed a massive increase of Rs35 per litre from February 1, 2023, till February 15, and it is currently charging Rs50 per litre petroleum levy, whereas the general sales tax (GST) has not been imposed yet.