Pakistan is likely to experience another increase in fuel prices, with sources indicating that the government plans to raise petrol and diesel prices by Rs 3 and Rs 6 per litre, respectively, effective February 1, 2025.
The anticipated hike comes in response to rising global crude oil prices.
The Oil and Gas Regulatory Authority (OGRA) is expected to submit its recommendation to the relevant ministry, factoring in fluctuations in international oil prices and exchange rates.
After consultations between Finance Minister Muhammad Aurangzeb and Prime Minister Nawaz Sharif, a final decision will be made, with an official announcement expected on January 31. If approved, the new fuel prices will be applicable for the next two weeks.
This potential petrol price increase follows a previous hike on January 16, when petrol prices were raised by Rs 3.47 per litre, bringing the price to Rs 256.13 per litre, and high-speed diesel saw an increase of Rs 2.61 per litre, reaching Rs 260.95 per litre.
