ISLAMABAD: Pakistan’s government has increased the price of petrol by Rs3.47 per litre, effective from January 16, bringing the new price to Rs256.13 per litre.
Meanwhile, high-speed diesel (HSD) has also seen an increase of Rs2.61 per litre, setting its new price at Rs260.95, according to an official notification issued by the Ministry of Finance on Wednesday. It said the new fuel prices will be effective from January 16.
“The Oil and Gas Regulatory Authority (OGRA) has recalculated consumer prices of petroleum products based on fluctuations in the international market over the past fortnight,” 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.
This is the second price adjustment in the new year. Earlier, on New Year’s Eve, petrol prices were increased by Rs0.56 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.