Petrol, diesel prices likely to rise by up to Rs10 from April 1

Prime Minister Shehbaz Sharif-led government is likely to increase the prices of petroleum products by up to Rs10 per litre for the next fortnight, sources said on Thursday.

According to well-placed sources within the petroleum department, the price of petrol is likely to rise by Rs9.50 per litre, while the price of diesel is expected to hike by Rs0.86 per litre.

Reportedly, the expected hike is a result of an increase in the commodity in the global market.

In the last fortnight review on March 16, the government had decided to keep the price of petrol unchanged.

However, the price of high-speed diesel (HSD) was slashed by Rs 1.77 per litre.

The current prices of petrol and diesel are Rs 279.75 per litre and Rs285.56 per litre, respectively.

The Ministry of Finance will announce the new prices on the night of April 1 after consulting with prime minister Shehbaz Sharif.