Pakistanis will pay 1 billion everyday with increase in petrol price. This increase will soon reflect in the life of a common man as the increase will result in pluralism of all commodities. A number of transporters have announced the increase in fare prices.
These fare prices depend on the fuel costs for movement of their vehicles. Yet, the current increase is an assumptive one. This will adjust with an increase or decrease (very unlikely) later. However, the costs of other products including commodities, food items, fruits and vegetables, meat, FMCG products and other consumables will also increase. There is a direct impact of fuel prices on these products.
One of the key reasons is the mobility of these products across the country. A number of products move from farms and villages to cities. Then, there are FMCG products which entirely depend upon their goods across the country. In fact, how can you stop mobility in a world which depends on faster movement between people, goods and products. Thus, there is a direct impact of fuel prices which may soon be seen in everyone’s life in the country.
Yet, the question arises: how much will Pakistanis pay for this increase in fuel prices.
How much will Pakistanis pay for Petrol?
We know that there is an increase of PKR 10.49 on fuel price for every litre of fuel. Everyone will pay it for each litre. The price increase will result in a cost of PKR 137.49 for each litre of fuel for a single car. However, it is pertinent to know hw much nation will pay for this price increase as a whole.
The international estimates show that Pakistan consumes 556,000 Barrels per day of oil. This translates to 87,848,000 87.8 million litres per day. Resultantly, an increase of 10.49 will mean that Pakistanis will pay 921,525,520 or 920 million rupees everyday.
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Yet, the most interesting part is that these estimates of fuel consumption are from 2016. The current consumption pattern is much higher than this. Thus, Pakistanis will roughly pay 1 billion everyday with increase in petrol price. Or, even more.