The government is expected to increase the prices of petrol and high-speed diesel (HSD) for the next seven days, according to reports on Friday.
The increase is expected to come because fresh tensions between the United States (US) and Iran have pushed the global prices of oil higher again.
According to the reports, the price of petrol is likely to go up by about Rs13 per litre. If it does get approved, the new price will be around Rs310 per litre.
In addition to this, high speed diesel is also expected to become Rs14 per litre more expensive. Its new price is likely to be around Rs324 per litre if this gets approved.
The Petroleum Division is expected to issue an official notification soon to confirm the new fuel prices. The revised rates will remain in effect for one week.
If the increase gets approved, it will come only a week after the government reduced fuel prices.
At that time, petrol became cheaper by Rs1.97 per litre and its price was set at Rs297.53 per litre. High speed diesel was also reduced by Rs1.97 per litre to Rs309.50 per litre.
The expected increase is linked to higher international oil prices. Global oil markets have come under pressure after renewed tensions between the US and Iran. This has raised concerns about crude oil supplies.
According to previous reports, the government is expected to keep petrol prices unchanged for the week starting July 11.
According to those reports, no change is expected in petrol or diesel prices for the coming week.
