The federal government is likely to revise petroleum prices upward for the next fortnight, with new rates expected to take effect from February 16, subject to final approval.
According to preliminary working, petrol may increase by Rs. 4.39 per litre, while high-speed diesel is expected to rise by Rs. 5.40 per litre. Kerosene oil is likely to go up by Rs. 4.00 per litre and light diesel oil by Rs. 6.55 per litre.
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Officials said the price adjustment has been calculated based on fluctuations in the international oil market and exchange rate movements. The Oil and Gas Regulatory Authority has completed its working and will forward a summary to the Petroleum Division.
After review, the prime minister will approve the revised rates, following which the Petroleum Division will issue an official notification.
In the previous review on January 31, the government increased the price of high-speed diesel by Rs. 11.30 per litre, taking it from Rs. 257.08 to Rs. 268.38. The price of petrol remained unchanged at Rs. 253.17 per litre at that time.
If approved, the new prices will remain in force for the next 15 days under the government’s fortnightly pricing mechanism.
