Petroleum products prices likely to go up by Rs13/litre

ISLAMABAD: Prices of all key petroleum products are likely to increase by up to Rs13 per litre from February 15 for the next fortnight, ARY News reported, citing informed sources.

They said the prices of petrol and high-speed diesel (HSD) would go up by Rs12 and Rs13 per litre, respectively, because of the recent increase in global oil prices.

The Ministry of Finance will announce the new prices of petroleum products after approval of Prime Minister Imran Khan. The new rates will be applicable from midnight on Feb 15.

On Jan 31, the federal government had deferred a decision on the proposed increase in prices of petroleum products for the next 15 days.

Taking to Twitter, Special Assistant to the Prime Minister on Political Communication Shahbaz Gill said that Prime Minister Imran Khan rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA) seeking hike in POL prices.

The Oil and Gas Regulatory Authority had suggested an increase of Rs11 per litre in the price of petrol and Rs14 per litre in diesel price for the next 15 days. On Jan 15, the federal government had jacked up prices of petroleum products by up to Rs3 per litre.