Prices of petroleum products likely to rise

Islamabad: The government is likely to increase petrol prices by Rs9.94 per liter from April 1, 2024 in the first fortnight of next month.

The main reason for the increase in the price of petroleum products is that the US company Mogas has reduced its production and thus the import of motor sprit by the American government has increased, following which the prices of petroleum products in the international market have increased.

However, high speed diesel prices are likely to come down by Rs1.30 as there is less demand and more supply in the international market.

It is also reported quoting government and industry sources that the price of petrol is likely to increase from Rs279.75 to settle at Rs289.69 from April 1 to April 15, 2024, while the price of high-speed diesel may decrease from Rs285.49 to Rs284.26.

The price of light diesel may increase by Rs0.45 to be sold at the rate of Rs168.63 while the price of kerosene oil may increase to Rs188.66 from Rs188.49.

It is pertinent to note that the government is currently levying Rs60 per liter of petrol and diesel while collecting Rs0.05 per liter levy from consumers on kerosene.