ISLAMABAD: Pakistanis are facing another hike in petrol and diesel prices for the next fortnight amid rising global oil prices.
As per the details, the expected hike in petrol and diesel prices was due to rising international oil prices and higher import premiums, which will lead the government to hike more taxes in the coming days.
People familiar with the developments said that petrol prices are likely to increase by Rs4 per litre, while diesel prices could increase by Rs5 per litre as international media reported petrol prices as $1.7 per barrel and diesel prices as $4.4 per barrel.
On the other hand, the local currency remained stable against the greenback during this period. As a result of these price changes, petrol prices are likely to reach Rs253 per litre while the price of high-speed diesel (HSD) is likely to increase by Rs261 per litre.
This adjustment follows a marginal increase in the previous price review, when petrol and diesel prices were increased by Rs 3.85 per litre.
With oil prices continuing to rise globally, the latest price hike is expected to further impact consumers, especially in the transportation and logistics sectors.
| POLs | Increase | Expected Price |
|---|---|---|
| Petrol | Rs4 | Rs253 |
| Diesel | Rs5 | Rs261 |
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