Petrol, diesel prices likely to rise by up to Rs11/litre

The prices of petrol and high-speed diesel (HSD) are estimated to go up by Rs4-11 per litre for the next fortnight (Feb 16) owing to higher international prices and import premiums, neutralising an impact of minor exchange rate gain. Informed sources said the prices of both major petroleum products — petrol and HSD — had increased in the international market over the current fortnight and the Pakistan State Oil (PSO) also had to pay higher import premiums on petrol even though the rupee had gained against the US dollar. As a result, the price of HSD will go up by Rs9-11 per litre and that of petrol will rise by about Rs4 per litre, depending on the final exchange rate calculation. The prices of kerosene and light diesel oil are also expected to slightly increase.