There is a possibility of a new increase in petrol prices in Pakistan.

Islamabad: According to sources, there is a possibility of increase in the prices of petrol, high speed diesel (HSD), kerosene and light diesel oil (LDO) in Pakistan.

The reason for this new hike in petrol prices is the rising global oil price, which has been on an upward trend for the past few weeks.

According to sources, the government is likely to announce a substantial increase in petrol prices next week.

However, the magnitude of the hike is yet to be confirmed, but sources suggest that it could cost between Rs. 10 to Rs.15 per litre.

A hike in petrol prices is expected to have a negative impact on the economy, increasing transport costs and increasing the prices of essential commodities.

Earlier, the federal government had announced that petrol prices will remain unchanged for the next fortnight.