Islamabad: The caretaker government may increase the price of petrol from February 1. The government may hike petrol prices by Rs 7.85 per liter and high-speed diesel by Rs 2.06 per liter in its final adjustment of POL prices from October 1. The rise in prices in the first 15 days of next month is mainly attributed to the tension in the Middle East due to the continuous Israeli attack on Palestinians in Gaza and Houthi attacks on commercial ships. International markets have reacted strongly to the attacks on the ships, which has led to a rise in prices. In the international market, motor petrol has risen to $6 per barrel and diesel to $3.7 per barrel from January 16, 2024, as international companies have increased their premium on motor spirit and high-speed diesel has increased substantially.

Source: The Patriot January 30, 2024 13:17 UTC