LAHORE MIRROR — Petroleum products are expected to increase from August 16 after the caretaker government announces new prices on August 15.
According to the local newspaper Daily Jang, the price of petrol is likely to increase by Rs15 per litre, while the price of diesel will increase by Rs20 per litre, the publication reported. The expected hike in the cost of petroleum products is a result of an increase in the commodity in the global market.
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.
Product Current prices
Petrol Rs272.95
Diesel Rs273.40
