Petrol price is likely to touch around Rs300 from April 16 in wake of changes in worldwide prices and federal government’s plan to increase tax.

Sources familiar with the development revealed that petrol rate will be increased by around Rs8 per liter.

For the next two weeks, the petrol rate will hit around Rs298 per liter, up from current Rs289.40 per liter. Diesel price is also probable to increase by around Rs2 per liter to about Rs284.24 per liter from the prior rate of Rs282.

Unofficial reports further claimed Pakistani government is seeing to increase the petroleum levy from Rs60 to Rs100 per liter, with the current levy already at the maximum limit of Rs60 per liter.

This might result in record-high petrol prices in Pakistan, and government will announce new rates on April 15 depending on the final exchange rate calculation.