KARACHI – The caretaker setup is set to increase petrol price for February 2024, amid surge in global oil rates.
Reports in local media said petrol price is expected to see Rs7.85 per litre and high-speed diesel (HSD) is likely to go up by Rs 2 to based on exchange rate adjustment for next two weeks.
The expected hike in petrol prices will be based on at exchange adjustment of Rs 2.75 per litre on petrol and Rs 4.50 per litre on HSD, per reports.
Meanwhile, the price of kerosene oil (kero) and light diesel oil (LDO) will also saw marginal increase.
The surge in petrol price is expected to be the first hike in petroleum products prices since November 2023, and it confused masses as it is coming just before general elections.
Oil and Gas Regulatory Authority has yet to work out the recommended fuel prices and the final decision will be made tomorrow on January 31, 2024.
It has been learnt that the caretakers mulled increase in petrol prices, and the move is being linked to the price increase in the global market in wake of regional tensions and Gaza war.
Amid regional tensions, the international market saw a surge in the oil price, as the crude climbed from $76 to $80 per barrel.
https://en.dailypakistan.com.pk/31-Dec-2023/pakistan-to-announce-january-2024-petrol-prices-today-check-all-details-here
