ISLAMABAD, Pakistan: The prices of petroleum products in Pakistan are likely to be hiked by Rs 18 per litre from August 16, 2023, sources said on Tuesday.
Sources said that the petrol price is expected to be increased by Rs 12 per litre for the next fortnight from August 16 to August 31, 2023.
Similarly, the prices of High-Speed Diesel (HSD), Light Diesel Oil, and Kerosene Oil may increase by Rs 18, Rs 15, and Rs 13 per litre respectively.
Sources said that in the international market, the prices of petroleum products have been increased by US$ 13 per barrel. They said that the petrol price has reached US$ 97 per barrel with an increase of US$ 7 per barrel.
In Pakistan, on the instructions of the International Monetary Fund (IMF), the government is levying a petroleum levy of Rs 55 per liter on petrol and Rs 50 per liter on HSD.
US dollar soars against PKR in Interbank Market
Meanwhile, in the Interbank Market, the value of the US Dollar (USD) against the Pakistani Rupee (PKR) has increased by Rs 2.06, and is now trading at Rs 290.55.
Last week, the US dollar closed at Rs 288.49 at the closing of the Interbank Market.
