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Another Hike in Petrol Prices Likely, 1st September

Dollar surge causes Rs12 exchange rate shift, while petrol price rise.

For the next 15 days in the month beginning on September 1, it is expected that the Oil and Gas Regulatory Authority (OGRA) will propose hike the prices of petrol by Rs12 per liter and diesel by Rs14.83 per liter.

Millions of dollars in debt will be at risk if the International Monetary Fund’s (IMF) requirements are not satisfied, which will make life miserable for the populace and trigger an inflationary maelstrom.

The current rate of inflation, according to a senior official with the Ministry of Energy (MoE), is 28%.

However, protests and countrywide outcry over high electricity prices are putting the caretaker government under strain.

It is important to remember that on August 15, the cost of petrol jumped by Rs17.50 per liter and the cost of diesel climbed by Rs20 per liter, causing the cost of petrol and diesel in Pakistan to reach its highest point ever.

The price of high-speed diesel has been set at Rs293.40 per liter, while the price of petrol has been maintained at Rs290.45 per liter.

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