The bad news for the public is that petrol and diesel prices are likely to increase from November 1. The price of petrol may increase by 3.55 rupees per liter.
According to media reports, the price of petrol may increase by 3 rupees 55 paisa while the price of diesel may increase by 0.82 rupees per liter. The reason for the increase in the prices of petrol and diesel is that crude oil is expensive in the global market.
It should be noted that the oil prices in the international market have increased by 3.14 and 1.14 dollars per barrel respectively.
The government had announced a reduction in petroleum product prices in the international market and a strengthening of the Pakistani Rupee against the US Dollar on October 15th. As per the announcement, the price of petrol was reduced by 40 rupees, and there was a 15 rupees decrease in the price of high-speed diesel.