Substantial increase in the petroleum prices in Pakistan

Substantial increase in the petroleum prices in Pakistan

There is a looming possibility of a substantial rise in petrol prices in Pakistan starting February 1st, 2024, and this potential increase is linked to the upward trajectory of global oil prices.

The upcoming biweekly review on January 31st is expected to unveil a noteworthy increase of Rs9 per litre in both petrol and diesel prices across the nation. This review is particularly significant as it precedes the general elections scheduled for February 8th.

In the preceding biweekly review on January 15th, the Oil and Gas Regulatory Authority (OGRA) announced a significant reduction of Rs8 per litre in petrol prices. Simultaneously, the price of high-speed diesel in Pakistan remained unchanged at Rs276.21 per litre.

As of now, the nationwide petrol price in Pakistan stands at Rs259.34 per litre, but this figure is subject to change in the upcoming biweekly review scheduled for February 1st.

If the speculated Rs9 per litre increase materializes on January 31st, the new petrol price in the country will amount to Rs268.34 from February 1st to February 15th.