Diesel and Kerosene oil prices in Pakistan are expected to go up from February 1, while petrol price could witness a slight drop, media reports have said.
As per the details, reports quoted sources as saying that high-speed diesel prices are likely to increase by up to Rs9.47 per litre while the price of Kerosene oil could go up by Rs3.69 per litre. Similarly, light diesel prices are expected to rise by as much as Rs6.95 per litre.
Petrol price, on the other hand, could register a slight reduction by up to 36 paisa per litre.
According to reports, the initial working on petroleum product prices has been completed and the Oil and Gas Regulatory Authority is expected to forward the pricing summary to the Petroleum Division on January 31.
Following the submission, the summary will be placed before the prime minister for approval, after which, the Petroleum Division will announce the revised fuel prices.
The new rates will remain effective until February 15.
In the previous fortnightly price review, the federal government decided to keep petrol and diesel prices unchanged. An official notification issued by the Petroleum Division said that petrol prices announced 15 days earlier would continue to remain in force, while diesel rates would also remain unchanged for the next fortnight ending January 31.
Officials said the decision was taken after reviewing petrol rates, domestic fuel trends and overall market conditions over the past two weeks.
The Petroleum Division also said movements in fuel prices, supply factors and demand conditions were assessed before deciding to maintain existing rates.