KARACHI: Sources from the Ministry of Petroleum confirmed on Tuesday that petrol prices were set to increase further in the month of May. This announcement comes at a time when commodity prices along with electricity tariffs have gone up, and the country is facing a major power crisis.
Sources confirmed to DawnNews that May will be a hard month for the general public, as petrol prices will go up almost three per cent while diesel prices will also shoot up by seven per cent.
Prices of kerosene oil are also expected to jump upwards by eight per cent.
Diesel, which is the most used petroleum product in the country, will become more expensive, pushing transportation costs upwards.
The IMF is in talks with Pakistan and is in favour of another price hike due to removal of energy subsidies, as the government battles the ongoing circular debt issue and the need to generate additional revenue.
Source Dawn News
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