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Pakistanis brace for another petrol price hike amid record inflation, inflated bills, and soaring prices of basic commodities.
The country of over 240 million is preparing for a massive increase in the price of petrol, which is projected to surge by up to Rs8 per litre from April 16 (Tuesday).
After last month’s increase, the federal government is expected to announce a significant increase in petrol prices for another time as International Monetary Fund IMF continues to push for additional taxes.
With the expected price hike, the new rate of petrol will touch Rs298 per litre. Currently, petrol is priced at Rs289.41 following a Rs9.66 increase on March 31.
For diesel, the price is expected to be around Rs282.24 after Rs3.32 drop.
The further hike in petrol and diesel will contribute more to inflation as it is primarily used in commercial vehicles transporting edibles and agricultural machinery.
Fuel prices are revised every two weeks based on various factors such as international prices and the exchange rate of the local currency.
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