Govt likely to increase petrol, diesel prices on 15th

[Naveed Yaseen]

ISLAMABAD: The government is likely to increase the price of petrol by Rs 5 per litre and of diesel by Rs 6-8 per litre from July 15, sources told Daily Times on Saturday. They said the move was in accordance with the skyrocketing fuel prices in the international market. Sources said that the government was providing a subsidy of Rs 34 per litre on diesel and the raise would reduce the burden of subsidy on the exchequer. They said the current difference of petrol prices in Pakistan and the international market was Rs 5 per litre and the government would pass on the impact to the consumers. They said with the international oil prices going up to $147 per barrel, the government was forced to pay around Rs 30 billion per month in differential claims to oil marketing companies to facilitate the consumers. zafar bhutta

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