The prices of petrol and diesel are likely to go up by over Rs5 per litre from Jan 16 for the next fortnight.
The Petroleum Division has received a summary seeking an upward revision of prices of petroleum products.
The price of petrol may be jacked up by Rs5.15 per litre and that of high speed diesel (HSD) by Rs5.65 per litre. Per litre price of light speed diesel (LSD) may go up by Rs4.
The sources said the proposed hike in the prices of petroleum products has been worked out in light of rising global oil rates. The Ministry of Finance will announce the new prices of petroleum products later today after approval of Prime Minister Imran Khan.
On Dec 31, the federal government jacked up the prices of petrol, diesel and other products by up to Rs4.15 per litre.
The federal government announced an increase of Rs4 per litre in the price of petrol, Rs4 in that of high-speed diesel (HSD), Rs3.95 in Kerosene oil and Rs4.15 in the price of light diesel oil.
