KARACHI: The News reported on Tuesday that the next two weeks' review, which would be place on February 15, 2023, might see a rise in petrol prices of Rs20 per litre.
According to insiders in the oil sector, the calculations used to determine the most recent increase in petrol prices were free on board (FOB) prices.
During the most recent fortnightly review of fuel prices, the government implemented a huge rise of Rs 35 per litre. The government currently imposes a petrol levy of Rs 50 per litre, although general sales tax (GST) has not yet been implemented.
If the foreign currency rate is changed in the upcoming review, the sources indicated that the fuel price could rise much more.
They added that the exchange rate was high, which would prevent local customers from receiving any benefits or price reductions on petroleum products.
Although the cost of petrol has fallen on the global market, domestic consumers have lost out as a result of the sharp devaluation of the rupee versus the dollar.
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