The prices of petroleum products are likely to rise once more from July 16.
According to the sources, the price of petrol is likely to increase by 7 rupees 67 paisa per liter and the price of high speed diesel by 3 rupees 72 paisa per liter while the price of kerosene is likely to increase by 2 rupees 73 paisa per liter.
A proposal to increase the levy on petroleum products has been prepared, the final approval of which will be given by Prime Minister Shahbaz Sharif.
The Finance Ministry will announce the new price tonight following consulting the Prime Minister.
Sales of petroleum products across the country fell to an 18-year low
It may be noted that the current prices of petrol and diesel are Rs 265 61 paise and Rs 277 45 paise per liter respectively, on June 30 the government had increased the prices of petrol and diesel by Rs 7.45 and Rs 9.56 per liter respectively.
The government has increased the maximum limit of petroleum development levy to 70 rupees per liter in the financial bill so that 12 trillion 80 billion rupees can be collected in the current financial year as compared to 960 billion rupees last year. Which was regarding 91 billion rupees more than the target of 869 billion rupees.
Import premium on petrol and diesel remained unchanged at 9.60 and 6.50 per barrel during the 15-day period.