Business

Petrol price increases in Pakistan

Caretaker government hikes petrol price by Rs13.55 per litre for next fortnight

By Saif Ur Rehman

January 31, 2024

A person fills their cars tank at a fuel station in this undated file image. — AFP — A person fills their car's tank at a fuel station in this undated file image. — AFP

The caretaker government has hiked the petrol price by Rs13.55 per litre for the next fortnight, on the recommendation of Oil and Gas Regulatory Authority (OGRA).

Updated POL prices go into effect from February 1 at midnight.

"Government of Pakistan has decided to bring changes in the current prices of petroleum products during the fortnight starting from 1st February 2024, as recommended by Oil and Gas Regulatory Authority (OGRA)," a statement issued by the Finance Division read.

After the revision, the price of petrol now stands at Rs272.89 per litre, while the price of high-speed diesel stands at Rs278.96 after a hike of Rs2.75 per litre.

Products	Existing price	New price	Increase/Decrease
Petrol	Rs259.34	Rs272.89	+Rs13.55
High Speed Diesel (HSD)	Rs276.21	Rs278.96	+Rs2.75

The latest price hike comes in light of ongoing tensions in Middle East as Israel continues to press war on Gaza.

Moreover, the price of kerosene oil has been decreased to Rs186.62 per litre after a hike of Rs0.24 and the price of light-speed diesel has been increased to 166.86 per litre after a hike of Rs2.03 per litre.