ISLAMABAD – The caretaker government is likely to increase petrol, and diesel prices for the first half of February 2024 amid fluctuations in international prices and changes in local currency.
Reports in local media said the caretaker setup will hike petrol and diesel prices by up to Rs7 per litre in the upcoming fortnight review.
As the country heads to the polls, its citizens are bracing for a potential surge in petrol and diesel prices – the first price hike since November 2023.
It has been learnt that the interim government mulled a substantial 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.
In last fortnight’s review, the Pakistani government reduced the price of petrol by Rs8 per litre and maintained high-speed diesel for second half of January 2024 to pass on the relief. Currently, petrol is being sold at Rs259.34 per litre while diesel price stands at Rs276.21 per litre.
Oil Prices in International Market
Amid regional tensions, the international market saw a surge in the oil price, as the crude climbs from $76 to $80 per barrel.
