Petroleum prices announced for next fortnight

ISLAMABAD: The federal government announced on Tuesday to maintain the petrol price across Pakistan, ARY News reported.

As per the notification, the price of petrol remains unchanged at Rs247.03 per liter. However, the price of High-speed diesel jacked up by Rs5 per liter to reach Rs251.29 per liter.

The prices of light diesel and Kerosene oil also remain unchanged.

Reports had earlier said that petroleum prices were set to increase in Pakistan in line with the upward trend in the global market.

Sources had said that the cost of major petroleum products, including petrol and high-speed diesel (HSD), was likely to rise by around Rs5.50 and Rs13 per litre, respectively, starting October 16.

Moreover, the federal government of Pakistan was also expected to increase the profit margin for oil companies by Rs1.35, raising it to Rs9.22 per litre. For petrol dealers, the proposed increase was Rs1.40, bringing their margin to Rs10.04 per litre.