ISLAMABAD: After the caretaker government’s upcoming announcement of new prices tomorrow (August 15), petroleum products are expected to undergo a price hike from August 16.
Additionally, according to media reports, there is a likelihood of an increase of Rs15 per liter in the price of petrol and Rs 20 per liter increase in the price of diesel.
On the other hand, The projected rise is attributed to an escalation in the global market prices of the commodity.
However, the report indicates that crude oil prices have surged by $5 per barrel, rising from $86 to $91 per barrel, contributing to the upward trend in global petroleum product prices.
Furthermore, a separate premium charge of $2 per barrel is applied to crude oil.
Simultaneously, diesel and petrol prices on the global market have also climbed by $5, transitioning from $97 per barrel to $102 per barrel.
Furthermore, if these increments remain constant, based on the prevailing rates, petrol in Pakistan is expected to experience an increase of Rs15 per liter, and diesel by Rs20 per liter.
However, in the preceding bi-weekly review, the outgoing government had introduced a substantial hike of Rs19 per liter in both petrol and diesel, attributing the decision to alignment with the International Monetary Fund’s (IMF) stipulations.
| Product | Current prices |
| Petrol | Rs272.95 |
| Diesel | Rs273.40 |
