Islamabad: Petroleum products likely to increase by Rs 15 pet litre for next fortnightly.
The Ministry of finance will take decision after consultation with Prime Minister Shehbaz Sharif.
It is likely that prices of High Speed Diesel go up to Rs 15.1 whereas petrol prices can be raised upto Rs 10. 25.
Sources said that Oil Industry has sent a working paper regarding regarding the prices of the petroleum products to the Oil and Gas Regulatory Authority (OGRA).
The federal government had announced an increase in the petrol price by Rs4.80 per litre on June 15.
In a notification, the Finance Division said that the new petrol price will take effect from June 16.The rate for high-speed diesel was also increased by Rs7.95 per litre, raising it to Rs258.43 from Rs253.63 per litre.
In the previous fortnight, the federal government had raised the petrol price by Re1 amid largely stable global oil markets.
Petrol is primarily used in private transportation, small vehicles, rickshaws, and two-wheelers. Rising fuel prices significantly affect the budgets of middle- and lower-middle-class households, who mainly rely on petrol for commuting.
In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary, as it is extensively used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers. The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items
