Petrol prices likely to increase by up to Rs4 per litre

The outgoing caretaker government is likely to increase the prices of petroleum products by up to Rs4 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 Rs1 per litre, while the price of diesel is expected to hike by Rs4 per litre.

Reportedly, the expected hike is a result of an increase in the commodity in the global market for over 15 days.

In the last fortnight review on February 15, the interim government had increased the price of petrol and diesel by Rs2.73 and 8.73 per litre, respectively.

The current prices of petrol and diesel are Rs275.62 per litre and Rs287.33 per litre, respectively.

The Ministry of Finance will announce the new prices on February 29 (today) after consulting with caretaker prime minister Anwar-ul-Haq Kakar.