Fuel prices may go up again due to IMF’s condition

The Fuel prices in the country were likely to go up before August owing IMF’s condition to increase levy, the sources said on Friday. They said that dealers ‘margin was another factor to increase fuel prices again. They said that the levy on petrol might go up by Rs5 per litre while the Diesel levy was likely to be increased by Rs10 per litre. An increase in the dealers’ margin was also expected to be added to the OGRA summary. The sources said that the government decided to increase the dealers’ margin to Rs7 per litre which would cause an increase in the fuel prices too. The decision to increase the fuel prices would be made on July 31, 2022. Earlier, the Economic Coordination Committee (ECC) gave approval of an increase in sales and distribution margins of oil marketing companies (OMCs) and petroleum dealers. The latest reports suggested that Finance Minister Miftah Ismail accepted the demands of petroleum dealers OMCs by raising their sales margin by Rs7 per litre. The OMCs and petroleum dealers had been seeking an increase in their sales and distribution margins by around 6 per cent to the premise of an increase in the costs of doing business and inflation.

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