KARACHI: The price of petrol is expected to reach an all-time high of Rs150 per lite, sources in oil marketing companies said Thursday, amid a hike in the rates of crude oil in the international market.
The government is expected to move up the price of petroleum products by Rs6 per litre, sources said, adding that the rate of petrol would rise by Rs5 per litre and diesel by Rs6 per litre. The Ministry of Finance will make a final decision in this regard after consultations with Prime Minister Imran Khan and the new prices will be effective from January 16.
The federal government, on the eve of the New Year, had announced yet another hike in the prices of petroleum products.
The price of petrol and high-speed diesel(HSD) had been increased by Rs4 per litre for the first 15 days of January 2022. The price of kerosene had been increased by Rs3.95, and light diesel oil (LDO) by Rs4.15 per litre.
After the increase, the price of petrol went up from the previous Rs140.82 per litre to Rs144.82 per litre, while the price of high speed diesel jumped to Rs141.62 per litre from the previous Rs137.62 per litre.
The rate of light diesel oil went up to Rs111.06 per litre from Rs107.06 per litre. Similarly, the price of kerosene went up from Rs109.53 to Rs113.53 per litre.
The increase had been announced to meet the petroleum levy target agreed with the International Monetary Fund (IMF).