Govt likely to raise petrol price by Rs13, diesel by Rs14 tonight

The federal government has decided to increase petroleum prices following a surge in global crude oil prices amid heightened tensions between the United States and Iran, sources said on Friday.

According to sources, the government has decided to pass on the impact of rising international oil prices to consumers immediately.

Petrol is expected to become Rs13 per litre more expensive, while the price of high-speed diesel is likely to increase by Rs14 per litre, the sources said.

The revised prices are expected to take effect from 12 midnight tonight, after the issuance of an official notification.

The increase comes as global crude oil prices have climbed due to growing geopolitical tensions in the Middle East, particularly between the United States and Iran, raising concerns over potential disruptions to oil supplies.

Sources said the Ministry of Finance will issue the formal notification announcing the new petroleum prices shortly.