Petrol price in Pakistan expected to increase majorly from Feb 1st

WEB DESK: There’s a possibility of a major increase in petrol prices in Pakistan, starting February 1st, 2024. This potential increase could be attributed to the upward trend in global oil prices.

It is anticipated that the upcoming biweekly review on January 31st will likely reveal a significant increase of Rs9per litre in both petrol and diesel prices across the country.

This review holds particular significance as it is the last one before the general elections scheduled for February 8th.

In the last fortnightly rev­iew review conducted on January 15, the Oil and Gas Regulatory Authority (OGRA) made a significant announcement, revealing a notable reduction of Rs8 per litre in petrol prices. Meanwhile, the price of high-speed diesel in Pakistan remained steady at Rs276.21 per litre.

Read more: Petrol price in Pakistan for first fortnight of February 2024 to be unveiled soon

As of now, the petrol price in Pakistan is recorded at Rs259.34 per litre nationwide. This figure is subject to change in the upcoming biweekly review scheduled for February 1st.

If the price of petrol increases by Rs9 per litre on January 31st, the new petrol price in the country will be Rs268.34 from February 1st to February 15th.

However, the confirmed petrol prices are subject to official government announcement. After this announcement, the new petrol prices will be applicable throughout Pakistan, including Lahore, Islamabad, Rawalpindi, Sialkot, Peshawar, and Karachi.