Petrol prices likely to rise by up to Rs2.50 per litre from November 1

Petrol prices in Pakistan are expected to increase by up to Rs2.50 per litre for the upcoming fortnight, according to official sources on Wednesday.

Sources within the oil sector said the Oil and Gas Regulatory Authority (OGRA) has prepared a summary recommending adjustments in fuel prices, reflecting recent fluctuations and uncertainty in global oil markets.

As per the proposed changes, petrol prices may rise by Rs2.35 per litre, while the rate of high-speed diesel could go up by Rs2.50 per litre.

The summary will be forwarded to the Ministry of Finance on October 31 for review. Following approval from Prime Minister Shehbaz Sharif, the finance minister is expected to announce the new prices, which will be effective from November 1 to November 15.

Fuel prices in Pakistan are revised on a fortnightly basis, in line with international market trends and currency exchange movements. The latest review comes amid volatility in global oil prices due to geopolitical tensions and supply concerns.

If approved, the upcoming revision would mark a continued upward adjustment in domestic fuel prices, affecting transport and industrial costs across the country.