Petrol and Diesel Expected to Become More Expensive
Web Desk
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4 months ago
LAHORE – In another blow to inflation-stricken citizens, the government is preparing to increase petrol and diesel prices from July 1, with a sharp hike expected over the next 15-day review period.
According to sources in the Petroleum Division, the price of diesel is expected to rise by up to Rs 15 per litre, while petrol may see an increase of around Rs 11 per litre.
The Oil and Gas Regulatory Authority (OGRA) is set to send a price summary to the Ministry of Petroleum today. Following this, the new fuel prices will be officially announced tonight, subject to approval by the finance minister in consultation with the prime minister.
The expected price hike is being attributed to a rise in global crude oil prices and devaluation of the Pakistani rupee, both of which have increased import costs for petroleum products.
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