Petroleum prices are likely to increase by Rs 5 per liter from August 1, it was learnt on Saturday.
The Oil and Gas Regulatory Authority (OGRA) would submit a summary to increase petroleum products prices on July 29 to the Ministry of Petroleum for approval.
OGRA officials said the expected increase would be due to the rise in oil prices and devaluation of the Pakistani rupee in the international market.
The sources said the expected increase in the price of petrol would be Rs 1.60, kerosene oil Rs 3.95, high-speed diesel oil Rs 3.20 and light diesel Rs 3.10 per liter.