Petroleum prices likely to increase by Rs16 per litre

Islamabad: Interim government likely to increase the petroleum prices by Rs16 per litre amid the rise in the international oil markets on September 16.

The price of crude oil has surpassed $90 a barrel on the world market, an increase of more than 6% in just 15 days.

A suggestion has been made to raise POL prices in response to the rising cost of refining deals margin.

The government has been asked to raise the cost of petrol by Rs16 to Rs321.35 per litre.

The government has also been asked to raise the cost of diesel by Rs13.50 to Rs325.50 a litre.

Additionally, it has been suggested that the cost of kerosene oil and light-speed diesel be raised by Rs. 10 and Rs. 8.80, respectively, per litre.

According to reliable sources, the interim prime minister would make the final call on whether to raise the price of petroleum goods.

"The notification of the increase in the prices of petroleum products will be issued, which will be applicable after 12pm," they continued. "Only after the prime minister's approval," they said.