Islamabad: Pakistan may face a new wave of increased petrol prices in the upcoming fortnightly petroleum price review, as reported by Geo News. Industry insiders suggest that the price of petrol could rise by approximately 10 Pakistani Rupees (PKR) per litre, attributing this to a surge in international crude oil prices.

According to estimates from the oil industry, the price of petrol is expected to increase to PKR 289.69 per litre in the upcoming fortnightly review, up from the current rate of PKR 279.75 per litre.

Geo News has reported that the price of high-speed diesel (HSD) is projected to decrease by PKR 1.30 per litre in the upcoming review, reaching PKR 284.26 from the current rate of PKR 285.86 per litre.

However, the price of kerosene will experience a slight decrease of PKR 0.17 per litre, reaching PKR 188.49 from the current PKR 188.66 per litre. Likewise, the price of light diesel oil (LDO) is expected to rise by PKR 0.45 per litre to PKR 168.63, up from the current PKR 168.18 per litre.  

"The local price of petrol will be raised due to a hike in prices in the international market," news agency ANI reported quoting an official. "The international price of petrol jumped to $95 per barrel in the last two weeks compared to $90 per barrel in the first fortnight of March."

"The massive change in the petrol price would come because of the rise in the price of petrol in the global market."

The fuel prices are reviewed every 15 days based on the global rates and exchange rate of the local currency. The rupee registered a slight increase against the US dollar, trading at around 277.94 per dollar on Friday.

The federal government will announce the final prices on Sunday (tomorrow) which will take effect from April 1 (Monday).

The petrol prices remained unchanged in the last fortnightly review while the price of HSD decreased by PKR 1.77 per litre.