Pakistani petrol prices could rise?
According to experts, price of petrol in Pakistan should have reduced by Rs 25 per liter in view of the recent decline in oil prices in the international market.
Due to the rupee's continuous decline against the dollar and the local unit making record lows on a daily basis for the last couple of days, the government will not be able to pass on the benefits of lower prices for petroleum products to consumers.
The local currency had plunged to a new low against the US dollar, which continued to strengthen in the inter bank market for the ninth straight session. As it shed Rs 3.09 or 1.31%, the greenback closed at Rs 236.02 in the inter bank market, up from Rs 232.93 a day earlier. After closing at almost Rs 211 on July 15, 2022, the dollar has gained Rs 25 against the rupee.
As a c...