Rs.4 per litre increase likely in petroleum prices from March 1

Petroleum prices are likely to go up by Rs. 4 per litre in Pakistan from March 1  despite a 3 percent drop in international oil prices.

According to sources, the price of petrol is likely to increase by about Rs 4 per liter, while the price of high-speed diesel (HSD) and kerosene may decrease by Rs 1 per litre.

The increase in petrol prices is estimated due to a slight increase in international rates and a decrease in the exchange rate against the dollar. Benchmark Brent prices have generally remained stable over the past 10 days.

Ex-depot petrol is currently priced at Rs 256.13 per liter and high-speed diesel is priced at Rs 263.95 per liter.

On February 15 the government announced a minor decrease in petroleum prices, though the consumers expected a significant decrease after prices dropped in the international market, however meet the tax target over IMF demand the government did not transfer the international price drop to the people in the country.