Pakistan is expected to face another increase in petroleum prices from February 1, as the Oil and Gas Regulatory Authority (OGRA) has finalized its price adjustment summary and forwarded it to the Petroleum Division. The official rates will be announced on January 31, following final approval by Prime Minister Shehbaz Sharif.
According to informed sources, high-speed diesel is likely to see a sharp increase of Rs. 9.47 per litre, while light diesel oil may rise by Rs. 6.95 per litre. Kerosene oil prices are also expected to go up by Rs. 3.69 per litre. In contrast, petrol prices may remain unchanged or drop slightly by Rs. 0.36 per litre, offering marginal relief to consumers.
Officials say the proposed changes are based on international oil price trends and currency exchange rate fluctuations. Pakistan regularly revises fuel prices every fortnight to align domestic rates with global market movements and manage fiscal pressures.
The expected increase, particularly in diesel prices, comes at a time when transportation and logistics heavily rely on diesel, making it a sensitive adjustment for the broader economy.
Analysts warn that a rise in diesel prices could push up transport fares, freight charges, and food prices, adding further pressure on inflation. Diesel is widely used in goods transport and agricultural machinery, meaning any increase directly impacts the cost of living.
The government is expected to issue the official notification tomorrow, confirming the revised petroleum prices ahead of their implementation on February 1.