Another Price hike in Petrol to expected?

Another Price hike in petroleum Products to be expected?

it’s the 3rd Time that the prices of petroleum products like Petrol, HSD (high-speed diesel), LSD (Light speed diesel), and kerosene oil had been increased by up to the 84/- PKR per liter in the last two to three months of the tenure of this newly elected PMLN government under the Prime Minister Shahbaz Shareef, He was elected Prime minister on 11 April 2022 in the benefit of “vote of no confidence” Against The Former Prime Minister Imran Khan Niazi Who did an agreement in 2019 with the International Monetary Fund (IMF) For international Loans Which is affecting Petrol Petrol Prices and Might affect more in future, Afterwards Prime Minister Shareef took the oath of PM office on the same day he was elected under the chairman of Senate, As an Acting President due to unavailability of President ‘Arif Alvi’ who was not well, was on medical leave complaining of some sort of ”discomfort”.
At first, the PMLN Government continued the subsidized rates of Petroleum products for up to the one month from 11 April 2022 to 27 May 2022, on May 26 2022 the Petrol Price was between PKR 149.86/- to 151.86 PKR/- depending on the pumps, Afterwards later that day on ”May 26, 2022” the Government Decided to increase petrol by 30 Pakistani Rupees on May 27, 2022, And Petrol increased from 149.86 PKR to 179.86 PKR/- After 29% hike a Few days later the government increased Petrol and other petroleum product prices by another 30 PKR price hike, And Yup!! Another 30 Pakistani Rupees hike Made the Prices of Petroleum Products like Petrol, HSD (High-Speed Diesel), LSD (Light Speed diesel), and kerosene Oil Unreachable and Inaccessible to the common man, Cause that, hiked caused the Price hike of petrol from PKR 179.86 to 209.86, kerosene oil to PKR 181.94, diesel at PKR 204.15, and light-speed Diesel at PKR 178.31, kerosene oil was the only petroleum product which was hiked less than 30/- PKR.
Yeah that 60 Rupee hike in less than 20 days was a burden on the people at the time of this massive inflation in the country and was Hard to accept, but there was another massive hike was waiting for people on June 16 2022 exactly after 14 days of the last hike which was again announced by the finance minister Miftah Ismael with increased petrol price by Pakistani rupee 24 PKR.
The petrol Price Went from PKR 209.86 to PKR 233.86, Overall We can Notice the massive Petrol Price hike of PKR 84 to PKR 233.86 from PKR 149 as of the prices by the Former PTI Govt. prices from 11 April 2022 which was continued by the PMLN government as a subside Prices till 25 May 2022,
likewise PMLN Govt. publicize to increase the Diesel Price to PKR/- 263.31 per liter. The rate of the HSD (High-Speed Diesel) has been increased by PKR/- 59 per liter, As of May Price of HSD per liter was at PKR/- 144.16 and Yeah it’s a massive hike of PKR/- 119 in only less than a month, And it’s a 3rd consecutive in a row increase “one after the other” in petroleum Products, In Answer to Petroleum Price hike Some Political Parties Also did protests against the government,
And let’s not forget that it’s probably summer and as most of the electricity is also produced by the petroleum oils like “petrol”, So in Summer due to heavy load of electricity cause of Air Conditioners and electric consuming things like other machinery increases the demand of petrol, So more consumption of electricity means more petrol, So due to increasing demand and low supply means more hike in petrol and other petroleum Product prices so that’s happening in our country which does impact but not a very huge impact on petroleum prices, So let’s think about the bigger demand and supply “worldwide demand and supply“
Are fuel Prices A.k.a Petroleum Products prices increasing Globally?
The answer is “Yes” The Prices of Petroleum Products are increasing and rising globally, There are many more reasons So we’ll talk about a few of them
One of the main reasons are “demand and supply” Which are continuously rising because Growing Economies are causing increased demand for energy, basically in general & especially for Transporting materials and goods, to consumers by producers one of the main examples are “import and export”.

Another Reason to be believed some Uk***ne and Ru**ia Conflict can be the Reason, According to most the Economist state that the War conflict Caused Crude oil prices to hike above 100 USD a barrel from 90 USD
But one of the main reasons for the price hike in Pakistan was pressure built by international monetary funds (IMF) to meet their major condition for unlocking the funds as aid from mutual funds, The price hike was one of the main issues between IMF and Pakistan to reduce and abate the fiscal deflect before the yearly annual budget as a part of an agreement signed by the former prime minister Imran Khan, cause as the Price of fuel increases So the price of other goods increases, approximately the price of everything increases because transportation prices of goods increase too, so nowadays the Pakistani rupee is losing its value against the dollar so there is another chance of increased price of petroleum products which should be expected some experts may believe that the price hike will go around 270 Pakistani Rupees per liter which would be around 1.29 Us dollar, Right now Petrol Price per liter is 233.86 which is 1.12 US Dollar, and Internationally the Petrol Price per barrel is being traded at around 120.9 USD, From the past year price per barrel increased from 100 USD to 120.9 USD, Whereas Our beloved country is completely dependent on internationally produced Petroleum Products So, Further More Price increase to be expected, which can cause 20 Pakistani Rupees to 30 Pakistani Rupees increase per liter in Pakistan .
What do you Think about this? Please let us know About this in the comments.