Petrol price expected to hit all-time high of Rs150 per litre in Pakistan: sources

KARACHI: For the first time in the history of the country, petrol price is expected to hit Rs150 per litre amid soaring prices of crude oil in the international market, said sources in oil marketing companies.

The sources said that the government is expected to hike prices of petroleum products by Rs6 per litre from January 16. The authorities are likely to increase the prices of petrol by Rs5 and diesel by Rs 6 per litre, the sources added.

A final decision, however, would be announced by the ministry of finance after consultations with the prime minister.

Rs4 hike in petrol price

On the eve of the new year, the federal government had announced yet another hike in the prices of petroleum products.

According to a notification issued by the Finance Division, the price of petrol and high-speed diesel(HSD) had been increased by Rs4 per litre for the first 15 days of January 2022.

The increase had been announced to meet the petroleum levy target agreed with the International Monetary Fund (IMF).

As per the notification, the price of kerosene had been increased by Rs3.95, and light diesel oil (LDO) by Rs4.15 per litre.

After the increase, the price of petrol went up from the previous Rs140.82 per litre to Rs144.82 per litre, while the price of high speed diesel jumped to Rs141.62 per litre from the previous Rs137.62 per litre.

The rate of light diesel oil went up to Rs111.06 per litre from Rs107.06 per litre. Similarly, the price of kerosene went up from Rs109.53 to Rs113.53 per litre.