Fuel prices likely to rise by up to Rs4 per litre

ISLAMABAD: The prices of petrol and high-speed diesel (HSD) are estimated to increase by Rs1-4 per litre on Thursday (February 29) for the next fortnight due to minor adjustments in international prices, import premiums, and the exchange rate. Informed sources said that the prices of both major petroleum products — petrol and HSD — moved slightly in both directions (10 to 50 cents per barrel) in the international market over the past fortnight, and the Pakistan State Oil (PSO) had to pay higher import premiums on petrol. As a result, the price of petrol is estimated to be higher by Rs3-4 per litre than that of HSD by Rs1-1.5 per litre, depending on the final exchange rate calculation. The US dollar lost about 15 paise against the rupee on February 28. The prices of kerosene and light diesel oil are expected to remain stable.