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Petroleum prices in Pakistan are poised for a notable increase, as reports suggest a potential surge in the cost of petrol and diesel. Petrol prices may see a significant hike of Rs. 9.50 per liter, which could push the new price to Rs. 289.25 per liter from the current Rs. 279.75. Similarly, diesel prices are expected to rise by Rs. 0.86, potentially reaching Rs. 285.56 per liter. Moreover, there are indications that the government intends to raise the petroleum levy from Rs. 60 to Rs. 100. This proposed increase follows repeated demands from petroleum dealers for higher margins. It's worth noting that there have been multiple adjustments in the Petroleum Development Levy in recent years, including a substantial increase during the fiscal year 2023.