Prices of petroleum products could see a massive increase from February 1, due to changes in the international price of oil as well as charges over import of oil, a new report has claimed.

A new report has claimed that the price of petrol could be increased by upto Rs9 per litre. Meanwhile, the price of diesel could be increased by upto Rs6.

The price of petrol currently stands at RsRs259.34 while the price of diesel is fixed at Rs276.21

An earlier report had claimed that the prices could go by Rs7 per litre.

Prices of petroleum products are revised every forthnight in Pakistan, with the next announcement due on January 31.

The prices have been on the decline in Pakistan in recent months, with petrol price being slashed by Rs 8 on January. However, the price of diesel had been kept unchanged.

The prices of petrol in Pakistan are influenced by international prices as well as the exchange rate of the rupee against the US dollar.

The rupee has appreciated against the dollar in recent weeks and the price of petrol in the international market has fallen by $3 to $86.5 per barrel. However, the price of diesel has gone up by $2 to $97.5 per barrel.

The price of oil and diesel have wide-spread effects on the Pakistani econo