Petrol prices likely to increase in Pakistan

The federal government is expected to increase petrol price for the next fortnight effective from January 16.

According to report, light speed diesel may jack up by Rs5, while kerosene oil price could increase by more than Rs6 due, while a RS3.50 per litre increase is expected on petrol prices amid  fluctuations in the global market.

The petroleum industry has submitted a working paper to the Oil and Gas Regulatory Authority (OGRA) detailing the proposed price adjustments.

OGRA is set to review and determine the new fuel prices based on global market trends on January 15.

Following OGRA’s review, Prime Minister Shehbaz Sharif will give the final approval for the new rates.

The new fuel prices expected to take effect from January 16 and remain in place until January 31.