The federal government is expected to increase petrol prices from November 1, following fluctuations in global oil markets and currency exchange rates. Officials say the new prices will be announced after consultation with the Oil and Gas Regulatory Authority (OGRA).
Sources within the Petroleum Division revealed that the price of petrol may rise by Rs5 to Rs8 per litre, depending on international crude trends. Diesel prices are also likely to see a similar adjustment to maintain fiscal stability amid growing import costs.
The increase comes after a two-week review of international oil prices, which have shown a consistent upward trend due to supply constraints. The Pakistani rupee’s depreciation against the US dollar has further added pressure on local fuel costs.
Economists warn that the upcoming hike will impact transportation and commodity prices, potentially driving inflation higher in the coming weeks. They urge the government to explore subsidy options or targeted relief measures for low-income consumers.
Government officials maintain that the revision is necessary to balance revenue and prevent losses for the national exchequer. The adjustment, they say, reflects global market realities rather than domestic policy choices.
Public reaction has been mixed, with citizens expressing frustration over the continuous rise in living costs. Many have urged authorities to stabilize fuel prices to reduce the burden on ordinary households and small businesses.
