Engine oil prices are on the rise
The prices of engine oil brands are expected to change in the
coming days. The government has announced a 10% increase in the import duty on
petroleum products, which will take effect from August 25, 2023. This is likely
to lead to an increase in the prices of engine oils, as they are imported
products.
The exact amount of the increase is
not yet known, but it is expected to be around Rs. 100 per liter for most
brands. This will be the third increase in engine oil prices in Pakistan this
year.
The increase in engine oil prices
is likely to put an additional burden on motorists, who are already facing high
fuel prices. It is also likely to impact the automotive industry, as
manufacturers may have to pass on the increased costs to consumers.
The government has said that the
increase in import duty is necessary to meet the country's revenue targets.
However, critics have argued that the move will only add to the economic woes
of the country.
If you are planning to change your
engine oil in the coming days, it is advisable to buy it now before the prices
go up.
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