Islamabad: (Web Desk) – Petroleum product prices in Pakistan are expected to rise from February 16, according to sources familiar with a working paper prepared for the federal government. The proposed adjustments could see petrol prices increase by Rs4.39 per litre, while high-speed diesel (HSD) may rise by Rs5.40 per litre.
The working paper, prepared by the Oil and Gas Regulatory Authority (OGRA), also recommends an increase of Rs4 per litre in kerosene oil and a Rs6.55 per litre hike for light diesel oil (LDO), the largest proposed adjustment among petroleum products.
The summary of the proposed price revisions is expected to be submitted to the petroleum ministry shortly, after which the finance ministry will review the recommendations. The final decision will be made by the federal government, taking into account revenue requirements, fiscal considerations, and the potential impact on inflation.
Officials cautioned that the prices could rise further if additional taxes or levies are applied, emphasizing that the current figures are preliminary proposals. Diesel price increases are especially significant, as higher transport costs could affect multiple sectors and contribute to broader inflationary pressures.
The proposed hike follows earlier adjustments announced on January 31, which set petrol prices at Rs253.17 per litre for the fortnight starting February 1, while high-speed diesel prices were increased by Rs11.30 per litre to Rs268.38 per litre.
If approved, the new prices will take effect from February 16, impacting consumers and businesses nationwide. Analysts note that repeated hikes in petroleum products can directly influence inflation rates and transportation costs, affecting both household budgets and supply chains.
The federal government has indicated that final decisions will balance the need for revenue generation with protecting consumers from sudden or excessive price shocks, particularly in the transport and energy sectors.
