Petro price likely to increase, diesel price to decrease from December 1
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The prices of petroleum products are likely to change from December 1, according to industry sources.
The sources said that a proposal has been made to increase the price of petrol by 20 paise per litre and to reduce the price of diesel by Rs 6 per litre.
The price of petrol stands at Rs281.34 per litre while the new price of high-speed diesel (HSD) is at Rs296 per litre.
The sources said that the changes are based on fluctuations in the international crude oil market, where prices rose by 2.60 percent in the last two weeks.
London Brent oil, a benchmark for Pakistan, rose from $80.61 to $82.71 a barrel in two weeks.
The sources said that the final announcement regarding the changes in the prices of petroleum products will be made after the approval of the caretaker Prime Minister.