Hike in petrol and diesel prices proposed

There is a proposal to increase the prices of petroleum products (POL) in the country following a hike in the crude oil prices in the international market which have soared by $6.90 per barrel (9.50 per cent) in the last two weeks to reach $$78.88 per barrel from $71.98 per barrel, reported 24NewsHD TV channel on Saturday.  

Quoting its sources, 24News TV channel reported that there was a proposal to increase each liter of petrol’s price by Rs4.

If approved, they informed, petrol’s price would increase from the present Rs247.03 per liter to Rs250.98 per liter.

Similarly, sources said, there was a proposal for a hike in high-speed diesel’s price by Rs10.25 per liter.

If approved, its cost would jump from Rs246.29 per liter to Rs256.54 per liter, they added.       

Likewise, Rs7.85 per liter increase in the price of kerosene oil had been proposed, sources elaborated.

Similarly, they said, there was a suggestion to increase the price of one liter of light-speed diesel by Rs8.33 per liter.  

In case the government greenlights new prices, they will take effect from October 16.

Reporter: Ashraf Khan