The federal government may raise the prices of petroleum products up to Rs5.90 per litre for the upcoming fortnight, starting from November 16.
Sources said the ex-depot price of petrol may go up by Rs2.58 per litre from Rs248.38 to Rs250.96 per litre. Whereas, the ex-depot rate of high-speed diesel (HSD) may up by Rs5.91 per litre from Rs255.14 to Rs261.05 per litre.
The price of kerosene oil is also likely to increase by Rs5.54 per litre from Rs161.54 to Rs167.08 per litre and light diesel oil may increase by Rs5.90 per litre from Rs147.51 to Rs153.41 per litre.
The current calculation is based on the current level of petroleum levy, general sale tax and IFEM rates which is Rs7.89 per litre on petrol and Rs4.17 on HSD.
Premium on petrol was locked at $9.80 per bbl. Market data shows petrol's average price rose from $75.6 to $77.2 per barrel, while HSD rose to $88 from $83.6.
Additionally, the import premium on petrol increased to $9.80 per barrel.
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