Petroleum Prices Expected to Increase in Pakistan

Pakistan is set to see a rise in petroleum prices starting February 1, following the completion of price adjustment recommendations by the Oil and Gas Regulatory Authority (OGRA). The authority has submitted its summary to the Petroleum Division, which will issue official rates on January 31.

According to sources, high-speed diesel may increase by Rs. 9.47 per litre, while light diesel oil could rise by Rs. 6.95 per litre. Kerosene oil prices are also expected to climb by Rs. 3.69 per litre. Petrol may provide a small relief for consumers, as its price is projected to fall slightly by Rs. 0.36 per litre or remain unchanged.

Officials stated that the adjustments are based on global oil market trends and currency exchange rate movements. The final decision will be made after consultations with Prime Minister Shehbaz Sharif.

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Analysts warn that rising petroleum prices, especially diesel, will likely increase transportation costs and contribute to inflation, affecting freight charges and the cost of food across the country. The government’s official notification on the revised petroleum prices is expected tomorrow, ahead of the February 1 implementation.