Govt likely to hike petrol price by Rs10

ISLAMABAD (PEN) – As the Economic Coordination Committee (ECC) has approved an increase in the sales and distribution margins of oil marketing companies (OMCs) and petroleum dealers, the price of petroleum products is expected to increase by up to Rs10.

According to sources, the government plans to increase diesel price by Rs17 and also hike the dealers’ margin on petrol and diesel to Rs7 per liter.

It is pertinent to mention here that the International Monetary Fund (IMF) had imposed a condition to increase the levy in August.

On Thursday, the Economic Coordination Committee (ECC) of the Cabinet approved the proposal to fix dealers margin at Rs7.00/liter for Motor Spirit (MS) and High Speed Diesel (HSD).