Plan ready to increase petrol prices after electricity

Islamabad: The federal government has prepared a plan to increase the prices of petroleum products after the hike in power tariff, GNN reported.

According to the sources, the government has completed the preparations to increase the prices of petroleum products from February 29 in which price of petrol is likely to be increase by Rs4.50 and diesel by Rs2.50.

The price of Kerosene oil may increase by Rs 2.92 per liter while light diesel oil prices are proposed to remain unchanged.

It is also reported that the price of crude oil in the Brent oil market is 82.52 dollars per barrel. Oil and Gas Regulatory Authority (OGRA) will send the summary of price hike of petroleum products to the Ministry of Petroleum on February 29.

The Finance Minister will announce the new prices after consultation with the Prime Minister. The new prices of petroleum products will be applicable from March 1 to 15.