Islamabad, pakistan – Consumers in Pakistan are bracing for another potential increase in fuel prices, with industry sources indicating that petrol and high-speed diesel (HSD) could rise by up to Rs6.60 per litre for the upcoming fortnight. This anticipated adjustment follows a persistent upward trend in global crude oil markets.
specifically, the proposed hike includes an increase of Rs6.60 per litre for petrol and Rs5.27 per litre for HSD. In contrast, prices for kerosene and light diesel are expected to see reductions of Rs3.74 and Rs2.23 per litre, respectively.
The Oil and Gas Regulatory authority (OGRA) has reportedly finalized its assessments based on current global market dynamics and is set to submit a summary to the government by tomorrow. The oil industry has already provided its calculations to the regulator.
The final decision on these price adjustments rests with Prime Minister Shehbaz Sharif, who will approve OGRA’s summary. These proposed changes are part of the government’s routine review mechanism for petroleum product prices and would take effect for the next 15 days.
This potential increase comes after a significant hike implemented on July 1, which saw petrol prices jump by Rs8.36 to Rs266.79 per litre and HSD by Rs10.39 to Rs272.98 per litre. At that time, the government cited global market volatility, exacerbated by the Iran-Israel conflict, as the primary reason for the surge. Pakistan, heavily reliant on imports for approximately 85% of its petroleum requirements, remains particularly vulnerable to geopolitical events in the Middle East.