Petroleum products are expected to get pricier starting from August 16, reportedly. The caretaker government is set to reveal new prices on August 15.

The price of petrol might increase by Rs15 for each liter, and diesel could become Rs20 costlier per liter. This could happen due to the higher prices of these products in the global market.

Jang said that the cost of crude oil has risen by $5, going up from $86 to $91 for each barrel. This is making petroleum products more expensive all around the world. Additionally, there’s an extra fee of $2 for each barrel of crude oil.

Moreover, the cost of diesel and petrol in the global market has also gone up by $5, moving from $97 per barrel to $102 per barrel.

If these prices remain the same, in Pakistan, the price of petrol could increase by Rs15 for every liter, and the price of diesel might rise by Rs20 for each liter.

In the previous review, the outgoing government had raised the prices significantly by Rs19 per liter for both petrol and diesel. They mentioned that this was done to meet the demands of the International Monetary Fund (IMF).