ISLAMABAD: Petroleum prices in Pakistan are expected to be increased from midnight (July 1), sources said.
According to sources, the government can increase petrol and diesel prices by up to Rs 12 per liter with effect from tonight, after midnight.
The anticipated hike comes as the government plans to impose a carbon levy of Rs2.50 per litre on key petroleum products, including petrol, diesel, and furnace oil.
Additionally, the recent fluctuation in the exchange rate is also contributing to the expected rise. The Pakistani rupee has depreciated by 81 paisas against the U.S. dollar, further pushing up import costs.
The Oil and Gas Regulatory Authority (OGRA) has finalized a working paper outlining the proposed price adjustment to be submitted to the government on Monday.
The final decision on the revised fuel prices will be taken by Prime Minister Shehbaz Sharif after reviewing OGRA’s recommendations.
