Petroleum Prices Expected to Rise from Feb 1

Pakistan may see a significant increase in the prices of petroleum products from February 1, as the Oil and Gas Regulatory Authority (OGRA) has completed its work on price adjustments and is set to forward a summary to the Petroleum Division.

According to sources, the price of high-speed diesel is expected to increase by Rs. 9.47 per litre, while light diesel oil may go up by Rs. 6.95 per litre. Kerosene oil prices are also likely to rise by Rs. 3.69 per litre.

However, petrol may bring slight relief, as its price is expected to fall by Rs. 0.36 per litre or remain unchanged.

Officials said the proposed changes are based on international oil market trends and exchange rate movements. The final decision will be taken after consultations with Prime Minister Shehbaz Sharif.

The Petroleum Division is expected to issue an official notification regarding the revised prices on January 31, after which the new rates will come into effect from February 1.

Frequent changes in fuel prices continue to impact inflation and transportation costs across the country, with diesel price hikes particularly affecting freight and food prices.