Petrol price likely to go up by Rs 3.97 per litre

ISLAMABAD (Web Desk) – After a continuous decrease in the prices of petroleum products, the federal government has decided to raise the prices up to 3.97 rupees per litre, local media reports said.

An increase of Rs 3.25, Rs 2.67 and Rs 3.75 per litre is expected in the prices of light diesel oil, kerosene oil and petrol from the start of March, they added.

The price hike summary prepared by the Petroleum Ministry initially suggests a decrease of Rs 4.57 in the price of high octane.

The price of heavy duty diesel is anyhow expected to drop by Rs 3.5 per litre.

This price hike is proposed after a sudden increase in the price of crude oil which had fallen to the lowest since 2009 in the international oil market.