Pakistan Likely to Increase Petrol Prices from November 1

The prices of petroleum products in Pakistan are once again expected to go up from November 1, with an increase of up to Rs. 2.34 per litre. This anticipated hike comes amid growing instability in the global oil market and the ripple effects of new U.S. sanctions imposed on some of Russia’s top oil producers. These sanctions have reduced oil supplies in the international market, driving up crude prices and putting pressure on oil-importing countries like Pakistan.

According to initial estimates based on the first 12 days of the current pricing review period, petrol prices may rise by around Rs. 1.48 per litre. The cost of high-speed diesel (HSD), which is widely used for transport and agriculture, could also go up by Rs. 1.38 per litre. Even a small increase in diesel prices can significantly affect transportation and freight charges, leading to a rise in the overall cost of goods in the country.

Meanwhile, kerosene oil—often used by low-income families for cooking and heating in rural areas—is expected to face the sharpest increase of about Rs. 2.34 per litre. This rise will likely burden poor households that already struggle with high living costs. Similarly, light diesel oil (LDO), which is commonly used in small industries, power generators, and agricultural machinery, could see a smaller but still notable rise of Rs. 0.49 per litre.

If these trends continue, the new estimated prices of petroleum products starting November 1 may be:

• Petrol: Rs. 264.50 per litre
• High-Speed Diesel (HSD): Rs. 276.80 per litre
• Kerosene Oil: Rs. 184.05 per litre
• Light Diesel Oil (LDO): Rs. 163.25 per litre

These figures are provisional and subject to change. The final prices will be officially announced by the government on the evening of October 31, after a detailed review of the complete fortnight’s data, which includes international oil prices, import expenses, freight costs, and the Pakistani rupee’s exchange rate against the U.S. dollar.

Fuel prices in Pakistan are reviewed every 15 days, and the final rates are determined based on global oil price movements and the value of the local currency. Since Pakistan imports most of its petroleum products, any rise in international crude oil prices or depreciation of the rupee directly impacts local fuel costs.

This potential increase will be the latest in a series of fuel price adjustments in recent months. The country’s energy sector has been under tremendous strain due to fluctuating exchange rates, high import bills, and changing global supply chains caused by geopolitical tensions.

Economists believe that even a minor rise in fuel prices can lead to higher inflation, as transportation, logistics, and production costs go up across all sectors. This, in turn, affects food prices, daily essentials, and electricity generation costs, making life harder for ordinary citizens.

In recent months, Pakistan’s economy has shown slight signs of recovery, but consistent fuel price hikes have continued to erode consumer purchasing power. Many citizens fear that another increase will lead to a fresh wave of price inflation, affecting not only the transport and energy sectors but also the cost of living for millions of households.

As the government prepares to make its final decision on October 31, the public awaits the announcement with growing concern, hoping that the authorities might find a way to minimize the impact of global oil shocks on domestic prices.

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