Massive hike in Petrol prices on cards ahead of Eid

With Eidul Fitar just around the corner Pakistan may witness a massive hike in Petrol prices on Sunday (March 31) for the next fortnight.

As per details the current ex-depot price of petrol is around Rs280 per litre, however it could witness a hike of about Rs10-11 per litre on Sunday.

However, the price of high-speed diesel (HSD) is likely to drop by up to Rs2 per litre.

According to Dawn, the import price of petrol has increased by about $4 per barrel, and its import premium has further gone up to $13.5 per barrel from $12.15 a fortnight ago because of the geopolitical situation.

On the other hand, the HSD price was down in the international market, and the import premium paid by Pakistan State Oil (PSO) remained unchanged at $6.50 per barrel.

Due to the aforementioned reason, the rate of high-speed diesel was estimated to be down by Rs1.30 to Rs2.50 per litre.