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Petrol Prices Likely to Drop from May 1

Petrol price in Islamabad to drop by Rs 4.5, diesel by Rs 6 per liter.

The prices of petrol products in the country are likely to decrease from May 1, 2023.

Due to the poor economic policies of the present administration, the rapid rise in inflation has made the life of the common man more difficult.

In the meantime, the media is giving news of petrol relief for the middle class of Pakistan, which is suffering from the increase in petrol prices due to inflation.

Click here to read news in Urdu

According to reports, the administration may cut fuel prices from May 1 to boost its dwindling political capital among the public.

If so, farmers will experience a modest drop in inflation as diesel is an important fuel in both transportation and agriculture.

The federal government has hiked the price of fuel by Rs 10 per liter in the last fortnight’s review in view of the increase in petroleum prices in the international market and the change in the exchange rate.

The increase in fuel prices at the global level and fluctuations in exchange rates are said to be the justification for this increase in petrol prices.

Petrol subsidy for motorcycle owners

Due to dealers’ lack of confidence, the government’s proposal to subsidize petrol costs for two-wheelers and hatchbacks has been severely hampered. Several other factors are also hampering the implementation of subsidies.

The administration is also trying to avoid upsetting the IMF, which has previously expressed concerns about cheap petrol.

 

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