Petroleum Prices Likely to Increase from February 1

Pakistan is likely to see a notable increase in petroleum product prices starting February 1. The Oil and Gas Regulatory Authority has finalized its review of price adjustments and will soon submit a summary to the Petroleum Division.

Sources indicate that high-speed diesel prices could rise by Rs. 9.47 per litre, while light diesel oil may increase by Rs. 6.95 per litre. Kerosene prices are also expected to go up by Rs. 3.69 per litre.

Petrol, on the other hand, may offer slight relief, with its price projected to decrease by Rs. 0.36 per litre or remain largely unchanged.

Officials stated that the proposed adjustments are based on fluctuations in international oil markets and changes in the exchange rate. The final approval will come after consultations with Prime Minister Shehbaz Sharif.

The Petroleum Division is anticipated to release the official notification of revised rates on January 31, with the new prices taking effect from February 1.

Frequent fuel price changes continue to affect inflation and transportation costs nationwide, with diesel hikes having a significant impact on freight charges and food prices.