The government is likely to increase the prices of petroleum products by as much as Rs 12 per liter just days ahead of Eid-ul-Fitr. The Oil and Gas Regulatory Authority (OGRA) will forward its summary proposing new rates on 30th May while the new prices will take effect from 1st June after approval by the Prime Minister Imran Khan.
The price of petrol can go up by Rs 9.50 while high-speed diesel (HSD) may be increased by Rs 11.5. The price for light diesel oil (LDO) is likely to increase by Rs 7.85 while kerosene may see a rise of Rs 12 per liter.
The impact of rupee depreciation against the dollar is said to be incorporated in HSD and petrol prices, while the remaining increases would be made due to the rise in crude oil rates.
Petrol prices already saw an increase of Rs 9 per liter that was announced earlier this month. Now this will be the second massive increase in petroleum prices within a span of less than 30 days.