Inflation-battered citizens may face yet another hike in petrol prices as the Prime Minister Shehbaz Sharif-led government set to announce new petroleum products rates on Novermber 30.
Petrol prices may rise by Rs3.15 per litre, while high-speed diesel (HSD) could see an increase of Rs3.20 per litre. Kerosene oil prices are also expected to surge by Rs4 per litre, sources revealed.
The potential adjustments are attributed to fluctuations in global crude oil prices, which have impacted import costs.
Decision pending final approval
The Ministry of Petroleum is preparing a working paper outlining the proposed price changes, which will be sent to the Ministry of Finance. Finance Minister Muhammad Aurangzeb will announce the revised rates following consultations with Prime Minister Shehbaz Sharif.
Currently, petrol is priced at Rs248.38 per litre, while HSD is being sold at Rs255.14 per litre. Kerosene oil stands at Rs161.54 per litre, and light diesel oil (LDO) is priced at Rs147.51 per litre.
However, with global oil markets remaining volatile, another hike in domestic fuel prices could exacerbate economic challenges, increasing transportation costs and inflationary pressures on essential commodities.
