Inflation-stricken citizens may soon face another increase in fuel prices as the government, led by Prime Minister Shehbaz Sharif, is set to announce new rates for petroleum products on November 30. Sources suggest that petrol prices could rise by Rs3.15 per litre, while high-speed diesel (HSD) may see an increase of Rs3.20 per litre. Additionally, kerosene oil prices are expected to rise by Rs4 per litre.
These potential price hikes are attributed to fluctuations in global crude oil prices, which have led to higher import costs. The Ministry of Petroleum is preparing a working paper outlining the proposed price changes, which will be forwarded to the Ministry of Finance for final approval. Finance Minister Muhammad Aurangzeb will announce the revised prices after consultations with Prime Minister Shehbaz Sharif.
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As of now, petrol is priced at Rs248.38 per litre, HSD at Rs255.14 per litre, kerosene oil at Rs161.54 per litre, and light diesel oil (LDO) at Rs147.51 per litre. The upcoming changes, if approved, will add to the financial burden on consumers already grappling with high inflation.
