ISLAMABAD – Pakistanis are set to bear the brunt of another hike in Petrol, and Diesel rates from February 1, 2025, with prices expected to climb by up to Rs5-6 per litre.
The federal government is expected to jack up petrol, and diesel rates amid fluctuations in global rates and local currency. The global crude oil prices moved up in last fortnight, but lately come down. As of midweek, Brent crude hovered at $76.58 a barrel. US crude futures at $72.62.
Petrol Price in Pakistan
Despite the fresh plunge in the global market, petrol prices are expected to increase by Rs3 per litre, while high-speed diesel (HSD) could move up by Rs5-Rs6 per litre in the upcoming fortnightly review. With the expected price hike, the petrol rate is likely to touch 259-260 while Diesel can go up to Rs265.
In this regard, OGRA will submit proposal to the finance ministry, recommending price adjustments based on international oil price fluctuations and changes in the exchange rate.
So far no decision has been made as Finance Minister, Prime Minister Shehbaz Sharif will decide the new prices for next fortnight before Jan 31 review.
In mid-January, the Pakistani government jacked up petrol prices by Rs3.47 per litre, setting new rate at Rs256.13 per litre, while the price of Diesel was increased by Rs2.61 per litre, bringing it to Rs260.95 per litre.
