Petrol, diesel prices hiked upto Rs20 per litre
LAHORE MIRROR — The interim government has jacked up the prices of petroleum products by up to Rs20 per litre amid an increase in global oil rates starting from August 16.
According to the summary, petrol prices are projected to surge by Rs17.50 per litre, while diesel prices experienced a Rs20 per litre hike. This increase is attributed to a rise in global commodity prices.
It was further noted that the price of crude oil had increased by $5 per barrel from $86 to $91 per barrel due to the increase in the prices of petroleum products in the global market. On top of that, there is a separate premium charge on crude oil of $2 per barrel.
On the other hand, the price of diesel and petrol in the global market has also increased by $5 from $97 per barrel to $102 per barrel. If this price remains the same, according to the current rate, petrol in Pakistan will likely become expensive by Rs15 per liter and diesel by Rs20 per liter.