Petrol and diesel prices are likely to increase in the upcoming fortnight, with the government expected to revise rates from February 16. According to sources, petrol may go up by Rs. 4.39 per litre while high-speed diesel (HSD) could see an increase of Rs. 5.40 per litre. The move, if approved, will add further pressure on consumers already facing rising living costs.
Insiders familiar with the pricing review say the proposed adjustments have been finalised and will be forwarded by the Oil and Gas Regulatory Authority (OGRA) to the Petroleum Division. After approval from Prime Minister Shehbaz Sharif, an official notification will be issued.
Under the proposal, petrol is expected to rise by Rs. 4.39 per litre, high-speed diesel by Rs. 5.40 per litre, kerosene oil by Rs. 4 per litre, and light diesel oil by Rs. 6.55 per litre. If cleared, the revised prices will remain effective for the next 15 days.
Earlier on January 31, the federal government increased the price of high-speed diesel by Rs. 11.30 per litre, raising it from Rs. 257.08 to Rs. 268.38, while petrol was kept unchanged at Rs. 253.17 per litre. Those rates came into effect from February 1 for the current fortnight.
Fuel prices in Pakistan are reviewed every 15 days and are linked to global oil market trends and exchange rate fluctuations. Any increase in petroleum prices directly impacts transportation fares, food prices, and overall inflation, as diesel is widely used in goods transport and agriculture.
A final decision is expected before February 16, after which the Petroleum Division will formally announce the updated rates.
