Pakistan Raises Petrol Price by Rs 1 Per Litre for Next Fortnight

High-speed diesel price increased by Rs 7 per litre, setting its new price at Rs267.95.

Fri Jan 31 2025
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ISLAMABAD: Pakistan’s government has increased the price of petrol by Rs 1 per litre, effective from February 1, bringing the new price to Rs 257.13 per litre.

Meanwhile, high-speed diesel (HSD) has also seen an increase of Rs 7 per litre, setting its new price at Rs 267.95, according to an official notification issued by the Ministry of Finance on Friday. It said the new fuel prices will be effective from February 1.

“The Oil and Gas Regulatory Authority (OGRA) has reviewed and adjusted consumer prices for petroleum products in view of recent fluctuations in the international market oil market,” the notification stated.

The government attributed the increase in fuel prices to rising global crude oil costs, driven by recent US sanctions on oil exports to China and India. These sanctions have pushed crude oil prices to over $81 per barrel, marking the highest level since August 2024.

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This is the third price adjustment in the new year. Earlier, on January 15, 2025, the government had also raised petroleum prices, with petrol increasing by Rs 3.47 per litre and high-speed diesel by Rs 2.61 per litre.

Earlier, on New Year’s Eve, petrol prices were increased by Rs 0.56 per litre for the first fortnight of 2025.

The new prices are expected to impact various sectors, with transportation costs likely to rise and inflationary pressures anticipated to deepen further.

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