The government is gearing up to announce another massive increase in the price of petrol and diesel, reports said on Thursday.

Estimates from the oil sector said that the price of petrol could be increased by Rs10 while high speed diesel could see a hike of Rs9 per litre.

Similarly, the price of kerosene could be increased by Rs10 and light diesel by Rs8.

In the last increase announced at the beginning of September, the price of petrol had been increased by Rs14.91 while the price of diesel had been increased by Rs18.44 per litre. The increase had taken the price of the two fuels past 300 for the first time in the country’s history.

However, the prices of kerosene and light diesle were kept unchanged at the time.

Oil prices are announced every fortnight in the country with the next announcement expected to come on Friday night.

The government is charging petroleum levy at Rs50 per litre for petrol and Rs60 per litre for diesel.

The price of petrol in Pakistan is determined by a number of factors including international oil prices and the rate of the dollar against the rupee.