Petroleum prices likely to be increased massively in Pakistan

Prices of all key petroleum products are likely to increase by up to Rs13per litre from February 15 for the next fortnight.

They said the prices of petrol and high-speed diesel (HSD) would go up byRs12 and Rs13 per litre, respectively, because of the recent increase inglobal oil prices.

The Ministry of Finance will announce the new prices of petroleum productsafter approval of Prime Minister Imran Khan. The new rates will beapplicable from midnight on Feb 15.

On Jan 31, the federal government had deferred a decision on the proposedincrease in prices of petroleum products for the next 15 days.

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Taking to Twitter, Special Assistant to the Prime Minister on PoliticalCommunication Shahbaz Gill said that Prime Minister Imran Khan rejected asummary sent by the Oil and Gas Regulatory Authority (OGRA) seeking hike inPOL prices.

The Oil and Gas Regulatory Authority had suggested an increase of Rs11 perlitre in the price of petrol and Rs14 per litre in diesel price for thenext 15 days. On Jan 15, the federal government had jacked up prices ofpetroleum products by up to Rs3 per litre.