Pakistanis are expected to face another increase in petrol and diesel prices starting February 1, 2025, with a possible hike of Rs5-6 per litre.
The federal government plans to raise fuel prices due to fluctuations in global oil prices and changes in the local currency. Although global crude oil prices recently rose, they have decreased in recent days, with Brent crude priced at $76.58 a barrel and US crude futures at $72.62.
Read more: Pakistan to Raise Petrol, Diesel Prices from Jan 16 Amid Global Oil Price Surge
In the upcoming review, petrol prices could rise by Rs3 per litre, while high-speed diesel (HSD) might increase by Rs5-6 per litre. With this adjustment, petrol could reach Rs259-260 per litre, and diesel might go up to Rs265.
The Oil and Gas Regulatory Authority (OGRA) is set to submit a proposal to the finance ministry, recommending price adjustments based on international oil price shifts and the exchange rate. However, no final decision has been made yet, as Prime Minister Shehbaz Sharif and the Finance Minister will determine the new prices before the review on January 31.
Earlier in January, the government raised petrol prices by Rs3.47 per litre, bringing the price to Rs256.13, while diesel increased by Rs2.61 per litre, reaching Rs260.95 per litre.
