ISLAMABAD: Petroleum prices in the country expected to increase at the start of New Year, final decision on the matter will be announced on December 31.

As per Sources, the Petroleum Division apprised that petroleum prices are expected to increase from Jan 1, the price of kerosene could rise by Rs.1 per litre, the final decision will be announced following consultations between the Finance Minister and Prime Minister.

On December 15, Prime Minister Shehbaz Sharif-led government announced revised petrol and diesel prices for the upcoming fortnight.

According to the details, petrol prices remain unchanged at Rs252.10 per litre. However, high-speed diesel has seen a reduction of Rs3.05 per litre, bringing the new price to Rs. 255.38 per litre.

Additionally, the price of kerosene oil has been reduced by Rs3.32 per litre, now priced at Rs. 161.66 per litre. Light diesel oil also witnessed a decrease of Rs2.78 per litre, with the new price set at Rs148.95 per litre.