Petrol price likely to go up in Pakistan from Feb 1

Pakistanis are facing another possible rise in fuel prices, with sources indicating that the government is planning to increase petrol and diesel prices by Rs 3 and Rs 6 per litre, respectively, starting from February 1, 2025.

The anticipated price hike is attributed to increasing global crude oil prices.

The Oil and Gas Regulatory Authority (OGRA) is expected to submit a recommendation to the relevant ministry based on the fluctuations in international oil prices and exchange rates.

A final decision will be made following consultations between Finance Minister Muhammad Aurangzeb and Prime Minister Nawaz Sharif, with a formal announcement slated for January 31.

The new fuel prices will remain in effect for a fortnight, beginning February 1.

Read more: petrol price to go up

This potential hike follows the previous increase on January 16, when petrol prices were raised by Rs 3.47 per litre, reaching Rs 256.13 per litre, and high-speed diesel prices were lifted by Rs 2.61 per litre, reaching Rs 260.95 per litre.

The consecutive fuel price hikes are expected to add to the financial strain faced by the Pakistani public, already grappling with high inflation.