ISLAMABAD – Petrol and diesel prices are expected to touch an all-time high on the heels of higher international oil prices and the application of additional petroleum levy.
Reports in local media said prices of all key petroleum products are estimated to go up between Rs10-13 per litre from today for the next fortnight.
Diesel prices are also expected to surge Rs15-18 per litre as oil prices skyrocketed in the global market in aftermath of Russia-Ukraine tensions.
As of now, petrol is being sold at Rs147 per litre, high-speed diesel (HSD) at Rs144 and light diesel oil (LDO) at Rs114 per litre. In Asian trade, Brent crude was trading at 96 per barrel and WTI was trading at 95 per barrel.
Earlier in January, the Imran Khan-led government postponed the application of an additional Rs4 per litre petroleum levy, opposing the condition of the global lender to keep the prices unchanged.
Petrol price likely to cross Rs150 as another hike on the cards
Petroleum products generate most of their revenue in light of their massive consumption in the country. Average petrol sales reportedly touched 750,000 tonnes per month against the monthly consumption of around 800,000 tonnes of Hight Speed Diesel.
