Oil prices in Pakistan are expected to rise by 2 rupees after Russia’s attack on Ukraine. 9.59 per liter from 1 March.
The government pushed oil prices to record highs. 12.03 per liter to reach Rs. 159.86 per liter on February 16.
On February 16, crude oil prices were $ 94 a barrel, and Russia’s intervention in Ukraine raised prices above $ 100 for the first time since 2014.
Industry experts say Russia attacked Crimea in 2014, raising money from oil products. The United States has shale oil that is expensive but can be marketed so that oil prices can be lowered to the detriment of Russian revenues.
It is also estimated that the United States could ease sanctions on Iran, allowing it to sell oil on the global market and raise the price of gasoline to $ 65, but given the conditions of Iran and Russia, this option seems difficult to implement.
According to experts, if the current situation is not resolved soon, the price of a barrel of crude oil on the international market may rise to $ 125.
Economists fear that in this case, the price of gasoline in Pakistan could rise to Rs. 200, the price increase will significantly affect the already burdened low-income people. But now the price of gasoline may increase by 100 manat. 9.59 per liter to reach Rs. 169.45 per liter.
Similarly, the price of high-speed diesel will increase by Rs. 8.52 per liter, after which the new price will be Rs. For 162.67 liters.