The prices of petroleum products are likely to be amplified from October 1. According to sources in Petroleum Ministry the petroleum prices are probable to climb by Rs 8 per litre from next month.
The petrol prices are expected to increase by Rs 4 to Rs 6 per litre, whereas, kerosene oil prices can be increased by Rs 8 per litre, light diesel by Rs 3 per litre and high speed diesel by Rs 7.50 per litre.The new prices will be implemented after approval from the Petroleum Ministry, concluding decision is however not yet made in this regard. It is to be mentioned that the Finance Minister Asad Umar while presenting amendments for fiscal budget had foretold an increase in the prices of petroleum products by Rs 20.
He had cautioned that people might have to face inflation due to the fall in forex reserves, adding that petrol prices can increase by Rs 20 per liter