Petrol prices are expected to reach an all-time high of Rs150 per liter, according to sources in oil marketing companies on Thursday, as crude oil prices rise in the international market.
According to sources, the government plans to raise the price of petroleum products by Rs6 per liter, with petrol increasing by Rs5 per liter and diesel increasing by Rs6 per liter.
Following consultations with Prime Minister Imran Khan, the Ministry of Finance will make a final decision on this matter, and the new prices will go into effect on January 16.
On the eve of the New Year, the federal government announced yet another increase in the price of petroleum products.
For the first 15 days of January 2022, the price of petrol and high-speed diesel (HSD) has been increased by Rs4 per liter. Kerosene was increased by Rs3.95, and light diesel oil (LDO) by Rs4.15 per liter.
|Price of petroleum products|
|Product||Existing prices (per liter)||New prices|
01.01.2022 (per liter)
|High-Speed Diesel (HSD)||Rs137.62||Rs141.62||+4.00|
|Light diesel oil (LDO)||Rs107.06||Rs111.06||+4.15|
Following the increase, the price of petrol increased from Rs140.82 per liter to Rs144.82 per liter, while the price of high-speed diesel increased from Rs137.62 per liter to Rs141.62 per liter.
The price of light diesel oil increased from Rs107.06 to Rs111.06 per liter. Similarly, kerosene prices increased from Rs109.53 to Rs113.53 per liter.
The increase was announced in order to meet the International Monetary Fund’s target for the petroleum levy (IMF).