Petrol price likely to hit Rs 150 per litre as another hike on the cards

ISLAMABAD – Amid skyrocketing petroleum fuel rates, the prices of petrol and diesel are likely to go up by over Rs5 per litre from January 16.

Reports in local media said the prices of key petroleum products are estimated to jump by up to Rs5 per litre for the next fortnight in light of the recent surge in international oil prices.

The Petroleum Division has received a summary for an upward revision of prices of petroleum products. Reports added that the high-speed diesel (HSD) is also expected to soar by Rs5.65 per litre while an increase of Rs4/litre has been proposed for light-speed diesel (LSD).

The proposed hike in prices of petroleum products has been linked with rising oil rates in the international market. 

The Ministry of Finance will announce the new prices of petroleum products later today after the approval of Prime Minister Imran Khan.

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Earlier on New Year’s Eve, the PTI government increased the prices of petrol, diesel and other products by up to Rs4.15 per litre.

After the last surge, the price of petrol went up from Rs140.82 per litre to Rs144.82 per litre, while the price of high-speed diesel jumped to Rs141.62 per litre from the previous Rs137.62 per litre.

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