Petrol Price Likely to Increase in Pakistan – New Rates Expected Soon

The government of Pakistan is expected to change fuel prices in the upcoming review, according to a report by ARY News on Monday. Sources familiar with the matter said that the decision will be based on recent changes in international oil prices.

According to available details, officials have already done the initial calculations. These estimates take into account the ups and downs in global oil markets over the past two weeks. Based on these early numbers, there is a strong chance that petrol prices may go up by as much as Rs6.60 per litre, while the cost of high-speed diesel (HSD) might rise by Rs5.27 per litre.

However, there’s some relief expected for users of kerosene and light diesel oil (LDO). The price of kerosene may drop by Rs3.74 per litre, while light diesel oil could be reduced by around Rs2.23 per litre, giving some relief to people in rural and remote areas who rely on these fuels.

Officials have prepared a summary of the proposed fuel price adjustments and plan to send it to the Prime Minister’s Office on Monday. The final decision will be taken by Prime Minister Shehbaz Sharif. Once he approves the new prices, the Ministry of Finance will make an official announcement.

These new fuel prices, after approval, will stay in effect for the next 15 days, following the usual bi-weekly review policy.

It is worth noting that on July 1, the federal government had already increased fuel prices for the previous 15-day period. At that time, petrol prices were raised by Rs8.36 per litre.

As per the official notification released by the Ministry of Finance, the total petrol price was increased by Rs14.80 per litre, bringing the new price up to Rs266.89 per litre.

Similarly, the price of high-speed diesel was also increased significantly. The diesel rate went up by Rs10.39 per litre, reaching a new price of Rs272.98 per litre.

There was also a slight delay in the announcement of the revised fuel prices. Normally, these changes are shared just before midnight on the last day of the previous pricing cycle. However, this time the federal government missed the regular deadline and delayed the official notification.

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