Prices of petroleum products are expected to increase.

The government may increase petroleum product prices on February 16 for the latter half of the month.

Industry sources indicate that the price of petrol may rise by as much as Rs4.39 a litre.

It was stated that high-speed diesel might rise by Rs5.40 per litre, whereas light diesel oil may climb by up to Rs6.55 per litre.

Sources indicated that the price of kerosene oil is anticipated to increase by Rs4 per litre.

OGRA will submit the final summary to the Ministry of Petroleum tomorrow, effective February 16.

The ultimate determination concerning alterations in petroleum product prices will be executed by OGRA and the Ministry of Finance following discussions with the prime minister.

The government increased the price of high-speed fuel by Rs11.30 per litre on January 31. Subsequent to the hike, the revised price of high-speed diesel was established at Rs268.38 per litre.

Conversely, the price of fuel remained stable at Rs253.17 per litre, offering transient reprieve to consumers amidst volatile worldwide oil prices and domestic economic challenges.