ISLAMABAD – Pakistanis are set to face another hike in petrol and diesel prices for the next fortnight amid rise in global oil prices.
The expected hike in Petrol and diesel prices stemmed from an increase in rising international oil prices and higher import premiums, with the government expected to add more taxes in the coming days.
Those familiar with the development said the petrol price is likely to increase by Rs4 per liter, while diesel prices may go up by Rs5 per liter as the petrol price in international media jumped by $1.7 per barrel and diesel by $4.4 per barrel.
Local currency, on the other hand, remained stable against greenback during this period. As a result of these price changes, petrol is expected to reach Rs253 per liter, while the cost of High-Speed Diesel (HSD) is projected to rise to Rs261 per liter.
| POLs | Increase | Expected Price |
|---|---|---|
| Petrol | Rs4 | Rs253 |
| Diesel | Rs5 | Rs261 |
This adjustment comes after marginal hike in previous price review, when petrol prices, and diesel prices were increased bt Rs3.85 per liter.
With global oil prices continuing to climb high, the latest price hikes are expected to further impact consumers, particularly in transportation and logistics sectors.
Petrol, diesel prices in Pakistan set to rise as IMF recommends new taxes
