Petrol price may go up by Rs1.24/litre

POL products in global market witnessed increase in their prices owing to disruptions to shipping in Red Sea

By Khalid Mustafa

January 31, 2025

A fuel station worker fills petrol in a vehicle in Karachi on October 01, 2022. — PPI

ISLAMABAD: The government is likely to increase the price of petrol by Rs1.24 per litre and diesel by Rs4.49 per litre from tomorrow (Feb 1) for the next fortnight, mainly due to a rise in POL products prices in the international market.

POL products in the global market witnessed a slight increase in their prices, as disruptions to shipping in the Red Sea and through the Suez Canal are driving up the prices of African and US crude grades.

Industrial and official sources say that a hike in petrol price by Rs1.24 per litre has been estimated and Mogas will settle down at the new price of Rs257.37 per litre. The existing price of petrol stands at Rs256.13 per litre. Likewise, the new price of diesel is likely to be at Rs265.44 per litre with the increase of Rs4.49 per litre. The price of kerosene oil is expected to increase by Rs5.93 per litre and LDO by Rs5.05 per litre.