The caretaker government in Pakistan, effective from December 1, has revoked the relief provided to the public by maintaining the petrol price, resulting in a loss of PKR 10.70 per liter. This decision was influenced by the increase in the exchange rate in the PSO (Pakistan State Oil) Exchange Adjustment. Consequently, urban petrol consumers have been deprived of the previous relief, witnessing an increase of PKR 10.70 per liter. The adjustment in the exchange rate, especially against the US dollar, has prevented the public from benefiting from reduced prices in petroleum products.
Sources revealed that the relief of PKR 10.70 per liter on urban petrol and PKR 0.20 per liter on high-speed diesel has been withdrawn due to the exchange adjustment. It was further explained that an increase of PKR 14.17 per liter was introduced in the exchange adjustment, while a refund of PKR 3.21 per liter was made in the PSO exchange adjustment. Prior to this, the PSO exchange adjustment for petrol had a negative value of PKR 10.96.
Moreover, diesel prices experienced an increment of PKR 0.45 per liter due to the PSO exchange adjustment, pushing the adjusted value to PKR 2.67 per liter. The exchange rate fluctuations and adjustments in the petroleum pricing mechanism continue to impact consumers, as the government navigates economic challenges, affecting fuel prices and relief measures.
This move, while essential to balance economic factors, underscores the ongoing challenge of managing fuel prices amid global economic uncertainties and exchange rate fluctuations. Consumers, however, are likely to feel the immediate pinch of increased petrol and diesel prices, emphasizing the importance of economic stability and transparent communication about pricing policies.
