Fuel prices are again rising as high as the sky and will be readjusted this week for sales at pumps across Pakistan.
Prime Minister Shehbaz Sharif has hinted at another increase in prices of petrol and diesel in line with the energy crisis across international markets.
It is a challenging situation, he said while addressing the media earlier today.
Last week, the Petroleum Division increased both petrol and diesel rates by Rs. 26.77 per litre to Rs. 393.35 per litre and Rs. 380.19 per litre, respectively.
Unless income growth improves, fuel-related inflationary pressure is likely to remain disproportionately high for Pakistani consumers compared to their regional peers.
Meanwhile, petrol pump owners have demanded Rs. 82.5 billion payout from the government to absorb the impact of the war-driven fuel crisis.
Payments were released over three consecutive weeks, including Rs. 17–18 billion in the first week, Rs. 15 billion in the second week, and Rs. 18 billion in the third week.
The government is expected to disburse an additional Rs. 50–55 billion to Oil Marketing Companies (OMCs) soon to settle remaining payment obligations.