Petrol, diesel price likely to increase in Pakistan

ISLAMABAD: The citizens are likely to slap with another burden as the price of petrol and diesel are likely to increase in next two days, further exacerbating the inflationary pressures on households, ARY News reported on Saturday.

According to sources, a proposal to raise the prices of petrol and diesel has been submitted, indicating a substantial hike. The proposed increase in petrol prices is Rs 7.67 per liter, which would raise the price from Rs 265.61 to Rs 273.28 per liter.

Additionally, the proposal includes an increase of Rs 3.72 per liter for high-speed diesel, pushing the price from Rs 277.45 to Rs 281.17 per liter. The price of kerosene is suggested to rise by Rs 2.39 per liter, and light diesel by Rs 1 per liter.

The proposed increases are influenced by various factors, including global oil prices, currency exchange rates, and financial considerations for the energy sector.

The final decision regarding the new prices of petroleum products will be made by the Prime Minister. Once approved, the new prices will take effect for the following 15 days starting from July 16.

This anticipated hike follows a recent increase from July 1 to July 15, where the price of petrol was raised by Rs 7.45 per liter, bringing it to the current Rs 265.61 per liter.