From October 16, petrol price in Pakistan can rise by Rs 7 per liter and high speed diesel Rs 10 per liter.
The industrial sector said it had increased the prices of both products in the first 10 days. Statistics show that prices of refined products have risen from $79 to $91 a barrel since October.
POL prices are generally based on 13-day data and oil prices will continue to rise over the next three days.
However, it all depends on how much the government subsidizes for a reasonable increase this time against the expected sharp rise in petrol and diesel prices.
The government wants to make the IMF program operational and is in talks with the IMF, it will not be able to reduce the rising cost of POL this time.
So far, the government has approved an increase of Rs 9 per liter in the price of petrol. Rs 7.01 per liter in the price of high speed diesel is also observe from September 16.
The government further increased petrol price by Rs 4 per liter to Rs 127.30 per liter and HSD by Rs 2 to Rs 122.05 per liter in October
This will be the third consecutive increase in POL prices if the government.
