Petroleum prices likely to go up by Rs7

The government is expected to increase petroleum prices next month up to Rs7 per liter.

Quoting sources, Geo TV on Tuesday reported that the hike in petroleum prices is inevitable due to continuing decline in rupee’s value against US dollar.

They said decrease in rupee’s value is impacting Pakistan’s oil import bill.

They said prices of petrol, diesel, kerosene oil and diesel were expected to go up by Rs2, Rs3, and Rs7 per liter respectively.

The sources said the final decision to revise the petroleum prices would be made by May 26 in the light of oil import bill.