Petroleum prices likely to hike significantly

Islamabad: The government is once again preparing to drop a petrol bomb on the inflation-hit people.

According to sources, the prices of petroleum products are likely to increase by up to Rs15 per liter for the next 15 days. The price of diesel is likely to be increased by Rs15 per liter and petrol by up to Rs11 per liter.

Sources say that the new prices of petroleum products will be announced tonight. In this regard, OGRA will send a summary to the Petroleum Ministry today, after which the Finance Minister will make a final announcement of the new prices in consultation with the Prime Minister.

According to sources, the prices of petroleum products are expected to increase due to the rising crude oil prices in the global market and the depreciation of the Pakistani rupee.