KARACHI: Sources from an oil marketing company informed Geo News on Wednesday that the prices of petroleum products may increase by Rs5.50 per litre.
The federal government is expected to announce the new prices on November 15, with the updated rates taking effect the following day.
According to the sources, the price of petrol could rise by Rs2.58 per litre, high-speed diesel (HSD) by Rs5.50 per litre, and kerosene oil by Rs2.58.
Here’s a breakdown of the expected price changes:
| Product | Old Price | Expected New Price | Expected Change |
|---|---|---|---|
| Petrol | 248.38 | 250.96 | +2.58 |
| Diesel | 255.14 | 260.64 | +5.50 |
| Kerosene Oil | 161.54 | 164.12 | +2.58 |
Petrol is mainly used for private transport, small vehicles, rickshaws, and two-wheelers, and any price hike would significantly impact the budgets of middle and lower-middle-class families.
Meanwhile, the transport sector, which predominantly uses HSD, could see a direct effect on the prices of essential goods like vegetables and food, as HSD powers heavy vehicles and agricultural machinery.
In the last fortnightly review, the government raised petrol prices by Rs1.35 per litre and diesel by Rs3.85 per litre, which was higher than market expectations.
