Pakistan fuel hit record-high prices: How does it compare to India?

Amid the ongoing economic crisis in Pakistan, the country has hiked fuel prices yet again, its second in a month. Following the latest hike of PKR 17.50 per litre on petrol and PKR 20 per litre on high-speed diesel, the fuel cost has hit the country’s highest ever at PKR 290.45 and PKR 293.40, respectively.
The increase in fuel prices is due to a number of factors, including the rising global oil prices and the depreciation of the Pakistani rupee.
How does this compare to India?
As of August 17, the price of petrol in the capital is at Rs 96.72 per litre. Although this is lower than that of Pakistan, it is significantly higher when compared to the prices a few years ago.
At present, Rs 1 in India converts to PKR 3.45 in Pakistan. That said, Pakistanis are paying PKR 290.45 for a litre of petrol whereas when converted to INR, it would be Rs 81.40. The Pakistani rupee has been on a downward trajectory for a while and doesn’t seem to stop anytime soon as it depreciated further by 1.16 percent in both the interbank and open market on Wednesday.

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On the other hand, Prime Minister Narendra Modi, in his Independence Day speech, addressed the rising inflation and vowed to curb it. Reportedly, the government is planning to reduce taxation on fuel in its bid to bring the cost down.
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