ISLAMABAD: The prices of petrol and diesel are expected to increase by over Rs5 a litre from January 16 for the next fortnight, reports citing sources said.
The Petroleum Division has received a summary recommending an upward revision of prices of petroleum products.
The price of petrol may be jacked up by Rs5.15 and that of high-speed diesel (HSD) by Rs5.65. An increase of Rs4 has also been proposed in the price of light-speed diesel (LSD).
The sources said the proposed hike has been worked out in light of rising oil rates globally.
The Ministry of Finance will announce the new prices of petroleum products later today after the approval of Prime Minister Imran Khan.
Earlier on December 31, the federal government jacked up the prices of petrol, diesel and other products by up to Rs4.15 a litre.