Petroleum products prices expected to go up
ISLAMABAD (Suno News): Due to rising prices in the global market, the prices of petroleum products are likely to increase in Pakistan.

According to details, the government is likely to raise the price of petrol by Rs3.53 and diesel by Rs3.66 per litre on January 16. The increase in petroleum product prices is attributed to the rise in the international market.

Sources indicate that the price of crude oil in the global market has exceeded 81 dollars per barrel. The price of kerosene oil is expected to increase by Rs4.98 per litre, while the price of light diesel oil is expected to increase by Rs6.20 per litre.

As per sources, OGRA will send a summary regarding the adjustment in petroleum product prices. The final decision on the prices will be made by the Ministry of Finance after consultations with the Prime Minister.

It is worth noting that earlier, on January 1, the price of petrol was increased by Rs0.56, and the price of diesel was raised by Rs2.96 per litre.

It is important to mention that the government collects around 76 rupees per liter as tax on petrol and HSD (High-Speed Diesel). Although the general sales tax (GST) on all petroleum products is zero, the government collects a petroleum development levy of 60 rupees per litre on both products, which directly affects the public.