ISLAMABAD; Petroleum prices in Pakistan are expected to rise for the next 16 days, with a formal decision anticipated soon.
The oil industry has completed its pricing calculations and forwarded the summary to the Oil and Gas Regulatory Authority (OGRA), which will submit its recommendations to the federal government tomorrow.
According to sources, petrol prices are likely to go up by Rs 6.60 per liter, while high-speed diesel may see an increase of Rs 5.27 per liter. In contrast, kerosene oil prices are expected to decrease by Rs 3.74 per liter and light diesel by Rs 2.23 per liter.
The adjustments come amid a global upward trend, with US crude oil prices rising by $3.42 per barrel over the past two weeks. The summary outlining the proposed new rates will soon reach the Prime Minister for final approval.
Once sanctioned, the Finance Ministry will officially announce the revised petroleum prices, which will take effect immediately and remain in place until July 31. These adjustments reflect both international market movements and local fiscal considerations, impacting consumers and industries across the country.
