Petrol Price Hike Expected in Pakistan

With the start of the new fortnight on February 1, 2024, the petrol and diesel price is expected to witness a hike in Pakistan due to shifts in the global oil prices. According to the details, the price of petrol and diesel is expected to increase by Rs. 9.00 per litre for the next fortnight.

This upward trend in petrol and diesel price is influenced by increasing prices of oil in the international market as well as rising import premiums, while the Pakistani Rupee (PKR) has remained stable with no significant improvements against the US Dollar (USD).

It is pertinent to mention that if the caretaker government ends up increasing the price of petroleum products, it would be the first hike after a series of reduction for the past few fortnights. However, the final decision regarding the petrol and diesel prices will be announced tomorrow (January 31).

Furthermore, it must be noted that the caretaker government slashed the price of petrol in Pakistan during the last fortnightly review. On January 16, the petrol price was reduced by Rs. 8.00 per litre, bringing the new price to Rs. 259.34 per litre, while the price of high-speed diesel (HSD) was kept unchanged at Rs. 276.21 per litre.

Current Petrol Prices in Pakistan