Petrol and diesel prices likely to increase

ISLAMABAD: Another worrying news has come to light for citizens using petroleum products, where the prices of petrol and high-speed diesel are likely to increase significantly in the next 15-day review.

The new prices have been estimated due to the increase in crude oil prices in the global market and the increasing tension between Iran and the United States.

According to sources, the price of high-speed diesel is likely to increase by about Rs 40 per liter, while the price of petrol is likely to increase by up to Rs 10 per liter in the next fortnightly review to be implemented from July 18. If this increase is approved, its effects may also be felt on the prices of transport, the agricultural sector and daily necessities.

According to reports, the government is considering reducing the petroleum levy to reduce the burden of possible price increases, so that some relief can be provided to the consumers.

However, the final decision in this regard will be taken at the time of the official announcement of the next prices.

On the other hand, the government has decided to take strict action against those involved in creating artificial shortages and hoarding of petroleum products.

The National Committee on Monitoring and Coordination has taken strict notice of the activities of corrupt market elements and has directed OGRA to take immediate and effective action.

Officials say that a close watch is being kept on the supply of petroleum products across the country so that no kind of hoarding or artificial crisis is allowed to arise.

The government is expected to officially announce the new prices in the next few days, after which the public will know the final situation regarding the new prices of petrol and diesel.