ISLAMABAD – Petroleum prices are expected to increase by up to Rs8 per litre from February 16, hitting an all-time high in the country.
The Petroleum Division will announce the decision in this regard tonight after getting formal approval form Prime Minister Imran Khan.
The petrol price is expected to be surged by Rs6 per litre while diesel price by Rs8 in line with the increasing oil prices in the international market.
The oil prices have witnessed a surge in the international market due to growing tension between Russia and the West over Ukraine as per barrel crude oil is being traded at $95.
Earlier this month, the premier turned down a summary sent by the Oil and Gas Regulatory Authority (OGRA) to raise petroleum prices. The decision, according to the government spokesperson, was taken to provide relief to inflation-hit public.
Currently, petrol is being sold at Rs147.83 per litre, high-speed diesel (HSD) at Rs144.62 and light diesel oil (LDO) at Rs114.54 per litre.
