Petrol price may increase by Rs3.95, diesel by Rs10.26 per litre from 16th

ISLAMABAD: The government is likely to increase from October 16 the price of petrol by Rs3.95 per litre and diesel by Rs10.26 which may fuel inflation to some extent in the country.

Consumers in Pakistan would face the hike in price of POL products because of the Middle East situation.

The crude oil price, such as the value of Brent crude, stands at $79.04 per barrel and WTI crude $75.56.

Based on working of 12-day data with three days left, it has been estimated the price of petrol may increase by Rs3.95 per litre to Rs166.68 from Rs162.73. The price of high speed diesel is likely to increase by Rs10.26 per litre. The new price has been estimated at Rs175.72 per liter from Rs165.26. The price of kerosene oil may increase by Rs7.85 per litre, with new price at Rs153.27. The existing price is Rs145.42 per litre. The price of light diesel oil (LDO) is also likely to increase by Rs8.33 per litre to Rs142.25 from Rs133.92 per liter. The new POL prices have been worked out keeping in view the government taxes. The Inland Freight Equalisation Margin (IEFM) on petrol stands at Rs7.79 per litre and diesel at Rs4.44. The premium on Mogas is likely to be at $8.789 per barrel.