Petroleum prices in Pakistan are expected to face a rise in prices due to the increase in global oil prices and the Israel-Iran conflict. Sources say that in the next 15 days, prices will increase by up to Rs5.50 per litre.
As per the reports, the Oil Companies Advisory Council (OCAC) has compiled a document based on international market trends. Additionally, the Oil and Gas Regulatory Authority (OGRA) is expecting to present its summary to the Federal Government today.
The final call for the change will be made by Prime Minister Shehbaz Sharif after reviewing OGRA’s summary. Once approved, the revised prices will be put into effect. According to the report, high-speed diesel might rise by Rs5.27 per litre, petrol by Rs1.12, kerosene by Rs4.16, and light diesel oil by Rs4.13.
This expected adjustment is likely to add to the financial strain on the public, already coping with high inflation and escalating living expenses.