Prices of petroleum products likely to go up a week before elections

ISLAMABAD (PEN) : The caretaker government is gearing up to raise petrol prices a week before leaving the office.

According to sources, Rs7 per litre increase in price of petrol is on the cards after upward trend in global oil markets.

Global oil prices soared by $4.37 per barrel – from $77.78 to $82.15 – during the last two weeks.

Sources said the price of diesel would increase by Rs5 a litre.

They said OGRA and Petroleum Ministry have started working on the prices and final recommendations would be sent on January 31 for a change.

It may be recalled that domestic oil prices remained stable or witnessed a decrease since November last.