Petrol per litre likely to go up by Rs.5 in Pakistan from February 1st
News Desk :
Petrol per litre is likely to go up by Rs.5 in Pakistan from February 1st after the prices of petroleum products increased worldwide. Increasing prices of petroleum products have severely impacted the prices in Pakistan as well. The government of Pakistan is likely to increase per litre of petrol by Rs.5 from February 1st.
According to sources, consumers in Pakistan could face an increase of Rs10.72 per litre, or 9.49%, in the price of high-speed diesel. This fuel is widely used in the transport and agriculture sectors. Any increase in its price will be felt by all people because of a potential surge in inflation.
The price of petrol is likely to go up by Rs5.85 per litre, or 5.03%, from February 1. Petrol is used in cars and motorbikes and is also an alternative to compressed natural gas (CNG)
A tight supply of crude and geopolitical tensions in Europe and the Middle East propelled oil to a seven-year high at $90 a barrel in the international market on Wednesday.
Tensions between Russia and Ukraine partly fuelled the increase in oil prices. US President Joe Biden has recently warned that Washington will consider imposing sanctions on Russian President Vladimir Putin if Moscow attacks Kiev.