Petroleum products are likely to become more expensive from August 16, after the caretaker government announces new prices tomorrow (August 15). 

The cost of petrol is expected to go up by Rs15 per liter, while the cost of diesel is predicted to rise by Rs20 per liter, as mentioned in the report.

The reason behind this anticipated increase in the prices of petroleum products is due to a rise in the global market prices of these commodities.

According to the information from Jang, the price of crude oil has gone up by $5 per barrel, going from $86 to $91 per barrel. This increase is attributed to the higher prices of petroleum products on the global market. Additionally, there’s an extra charge of $2 per barrel as a premium on crude oil.

Simultaneously, the prices of diesel and petrol have also climbed by $5, going from $97 per barrel to $102 per barrel on the global market.

If these prices remain constant, based on the current exchange rate, it’s expected that the price of petrol in Pakistan will rise by Rs15 per liter, and diesel will become costlier by Rs20 per liter.

In the previous bi-weekly review, the outgoing government had declared a substantial increase of Rs19 per liter for both petrol and diesel. This move was explained as being in line with the demands of the International Monetary Fund (IMF).

Petrol Price in Pakistan