The federal government is expected to approve a sharp increase in petroleum prices, effective from October 1, with hikes ranging from Rs1.97 to Rs4.65 per litre, sources said on Monday.
The oil industry has finalised its calculations, proposing an increase of Rs1.97 per litre for petrol and Rs2.48 for High-Speed Diesel (HSD).
Light Diesel Oil (LDO) may see a Rs1.76 per litre rise, while kerosene oil is set for the steepest jump of Rs4.65 per litre.
Read: Petrol stays put while diesel creeps up Rs2.78
The Oil and Gas Regulatory Authority (OGRA) will now forward the price summary to the Ministry of Finance via the Petroleum Division.
A final announcement from the finance ministry is anticipated after receiving the prime minister's approval.
Earlier on September 16, the federal government announced new petroleum prices for the next 15 days, keeping petrol unchanged while increasing the price of high-speed diesel.
According to a notification issued by the Finance Division, the price of petrol will remain at Rs264.61 per litre. High-speed diesel, however, has been raised by Rs2.78 per litre, bringing the new price to Rs272.77.
Read more: Food prices soar in Lahore as floods disrupt supply
The revised rates took effect immediately and will remain in place until the end of September. Officials said the adjustment was part of the routine review of fuel prices, which are linked to international market trends and exchange rate movements.
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