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Petrol price expected to rise in Pakistan: sources

398774 045751 updates

  • Price of petrol expected to increase by Rs13 from Feb 16.
  • Price of diesel may go up by Rs18.
  • Govt decided to not hike prices for first 15 days of Feb last month.

The prices of petroleum products are expected to witness an increase in the next half of the ongoing month as crude oil rates have gone up in the international market, sources said on Saturday.

The sources said the price of petrol might move past the Rs150 per litre mark for the first time in history, as the rising international market rates might prompt the government to increase the price of petrol by Rs13.

The sources added that the price of diesel might go up by Rs18 from February 16.

Last month, the government decided against increasing the prices of petroleum products for the first 15 days of February.

At the time, Special Assistant to the Prime Minister on Political Communication Shahbaz Gill had tweeted: “The prime minister did not approve the summary of increasing petrol price by Rs11 and diesel by Rs14.”

Currently, petrol is being sold in the county at Rs147.83 per litre, high-speed diesel (HSD) at Rs144.62 and light diesel oil (LDO) at Rs114.54 per litre in the country.

Finance Minister hints at hike in petroleum prices

Few days back, Finance Minister Shaukat Tarin had indicated an increase in petroleum prices in-country in the coming days, adding that the government cannot lower petroleum product prices artificially.

During an appearance on the Geo News Programme, “Aaj Shahzaib Khanzada Kay Saath”, Tarin categorically rejected the idea of reducing petroleum prices artificially.

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He said that prices of petroleum products can’t be artificially reduced in the country. If the international market witnesses a hike in prices, the government will have to shift this burden onto the people.

He further hesitated to back the government’s decision to maintain unchanged petroleum prices for the first 15 days of February, saying that though this decision is popular, it is not going to sustain for a longer period.

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