ISLAMABAD: The federal government is expected to increase the petrol prices in Pakistan from December 16 due to rising global rates.
The government will issue the revised prices after second fortnightly review on December 15 with new rates coming into effect from December 16 till December 31.
Local media reported that the prices of American crude oil and British Brent have increased in the global market. Over the past ten days, the price of American crude oil has risen by 63 cents as it being is trading at $68.05 per barrel in the global market.
The price of British Brent has increased by 73 cents, after which it is trading at $71.85 per barrel.
On November 30, the government had revised up the petrol and diesel prices for first fortnight of December 2024.
The petrol price was moved up by Rs 3.72, while High-Speed Diesel had seen a hike of Rs 3.29. Now, the petrol and diesel prices stand at Rs252.10 and Rs258.43, respectively, till December 15.
The Oil and Gas Regulatory Authority is yet to send a summary to Finance Division. However, reports suggest that it would recommend an increase in petroleum prices for second half of December.
It is expected that the government would jack up the petrol price but situation in this regard will get clear after official notification.
