Fuel prices to go up as govt gives in to petroleum dealers' demands.

ISLAMABAD -- The prices of petroleum products are likely to go up as Economic Coordination Committee (ECC) on Thursday approved increase in sales and distribution margins of oil marketing companies (OMCs) and petroleum dealers, media reported citing sources.

A well-placed source in the finance ministry told media that ECC meeting presided over by Finance Minister Miftah Ismail here In Islamabad has accepted the demands of petroleum dealers OMCs by rasing their sales margin by Rs7 per litre.

The OMCs and petroleum dealers have been seeking an increase in their sales and distribution margins by around 6 per cent to the premise of increase in the costs of doing business and inflation.

The increase in dealer's margin will come into effect from August...