Petroleum prices in Pakistan are expected to rise by up to Rs5.50 per litre for the next 15 days, owing to an increase in global oil prices, sources revealed on Sunday.

According to reports, the Oil Companies Advisory Council (OCAC) has completed a working paper based on recent international market trends.

The Oil and Gas Regulatory Authority (OGRA) is expected to send its summary to the federal government today.

The final decision will rest with Prime Minister Shehbaz Sharif, who will approve any changes to fuel prices based on OGRA’s recommendations. New prices will be implemented once approved.

As per the proposed summary, the price of high-speed diesel could go up by Rs5.27 per litre, while petrol may see an increase of Rs1.12 per litre.

Additionally, kerosene may rise by Rs4.16 and light diesel oil by Rs4.13 per litre.