There is a possibility of an increase in petrol and diesel prices in Pakistan due to fluctuations in global oil prices. Following a recent hike in petrol prices, the government is contemplating an increase in the price of high-speed diesel.

The government has reportedly decided to increase the price of high-speed diesel by Rs8 per liter, effective from February 16. Additionally, a moderate increase of 80 paise per liter may also be observed in petrol prices.

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The increase in high-speed diesel prices is attributed to fluctuations in global oil prices. If implemented, the price of diesel could potentially rise from the current Rs278.96 per liter to Rs286.97 per liter, depending on premium and exchange rate adjustments.

High-speed diesel is extensively used in the transportation and agriculture sectors, and any increase in its price may impact the public due to potential inflationary pressures.

The government may maintain the price of furnace oil at Rs186.62 per liter, with a moderate increase of 62 paise per liter. There is also a possibility of a Rs2.50 per liter increase in the price of Light Diesel Oil (LDO), rising from the current price of Rs166.86 per liter to Rs169.62 per liter.

The calculation for the fuel prices is based on the current rates of petroleum levy and general sales tax, and the proposed prices have not yet been implemented by the Oil and Gas Regulatory Authority for the first half of February.