Petrol, diesel prices likely to go up by over Rs5/litre

ISLAMABAD: The prices of petrol and diesel are likely to go up by over Rs5 per litre from Jan 16 for the next fortnight, ARY News reported, citing informed sources.

The Petroleum Division has received a summary regarding an upward revision of prices of petroleum products.

Also Read: FBR notifies sales tax on petroleum products

The price of petrol may be jacked up by Rs5.15 per litre and that of high speed diesel (HSD) by Rs5.65 per litre. An increase of Rs4/litre has been proposed in the price of light speed diesel (LSD).

The sources said the proposed hike in prices of petroleum products has been worked out in light of rising oil rates globally. The Ministry of Finance will announce the new prices of petroleum products later today after approval of Prime Minister Imran Khan.

Also Read: Govt hikes petroleum products’ prices

On Dec 31, the federal government jacked up the prices of petrol, diesel and other products by up to Rs4.15 per litre.

The federal government announced an increase of Rs4 per litre in the price of petrol, Rs4 in that of high-speed diesel (HSD), Rs3.95 in Kerosene oil and Rs4.15 in the price of light diesel oil.