The federal government is expected to increase petroleum prices for the upcoming fortnight, with petrol projected to rise by Rs 1.24 per liter, and diesel likely to go up by Rs 4. In addition, light diesel oil is anticipated to see a hike of Rs 5.93, and kerosene oil could rise by up to Rs 5 per liter.
This anticipated increase follows a steady rise in global market rates, which are expected to directly influence domestic pricing. The Oil and Gas Regulatory Authority (OGRA) will make the final determination on the price changes, which will be based on international market trends and will take effect from February 1 to February 15.
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Prime Minister Shehbaz Sharif will provide final approval for the price revisions, ensuring that domestic fuel prices align with global changes. The move follows a series of price hikes in January 2025, which included a previous increase on January 15, when petrol prices went up by Rs 3.47 and diesel by Rs 2.63 per liter.
As global oil prices continue to fluctuate, the government is likely to make periodic adjustments, with the latest decision reflecting the need to balance domestic costs with international developments.
