Petrol prices likely to go up by Rs 3.97 per liter

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

An increase of Rs 3.25, Rs 2.67 and Rs 3.75 per liter is expected in the prices of Light Diesel, Kerosene Oil and Petrol from the start of March, the reports said.

Initially prepared price hike summary submitted by Petroleum Ministry suggests a decrease of Rs 4.57 in the price of High Octane. The price of heavy duty Diesel is anyhow expected to decrease by rupees 3.5 per liter.

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