The federal government is expected to raise petroleum prices for the upcoming fortnight due to a rise in global market rates, Express News reported on Thursday citing sources.
According to sources, petrol price could increase by Rs1.24 per liter, while diesel is projected to rise by Rs 4. Similarly, light diesel oil may see a hike of Rs5.93, and kerosene oil could increase by up to Rs 5 per liter.
The rise in global prices is expected to directly affect domestic rates, prompting the government to review and adjust the prices accordingly. The Oil and Gas Regulatory Authority (OGRA) will determine the new rates based on international market trends on January 31.
Prime Minister Shehbaz Sharif will give final approval for the fuel price changes, and the new prices will be applicable from February 1 to February 15.
This potential increase follows a recent price hike on January 15, when petrol prices were raised by Rs 3.47, and high-speed diesel by Rs 2.63 per liter. At that time, petrol was priced at Rs 256.13 per liter, and diesel at Rs 260.95 per liter.
Earlier, on January 1, 2025, the government had also raised petroleum prices, with petrol increasing by Rs 0.56 per liter and high-speed diesel by Rs 2.96 per liter.
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