Petroleum prices revised downward for next fortnight

ISLAMABAD: The government has announced a reduction in the prices of petroleum products, effective from March 1, 2025, following fluctuations in the international oil market.

According to a notification released by the Finance Division, the Oil & Gas Regulatory Authority (OGRA) has reviewed and adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market.

Under the revision, the price of high-speed diesel (HSD) has been slashed by Rs5.31 per litre, bringing it down to Rs258.64.

Simiarly, petrol has seen a marginal decrease of Rs0.50 per litre, now priced at Rs255.63.

Likewise, the price of superior kerosene oil has been reduced by Rs3.53 per litre to Rs168.12, while light diesel oil will now cost Rs153.34 per litre after a cut of Rs2.47.

The new petroleum prices will remain in effect for the next fortnight, with the next review expected in mid-March.

OGRA decreases LPG price by Rs6.15 per kg 

The Oil and Gas Regulatory Authority (OGRA) on Friday announced a decrease in the prices of the liquefied petroleum gas (LPG) by Rs6.15 per kilogram.

The new price of 1 kilogram of LPG cylinder has been set at Rs247.82.

According to a notification issued by the regulator, the price of 11.8 kilogrammes of domestic LPG cylinder has been reduced by Rs72.57.

According to the OGRA, the new price of the 11.8 kg domestic cylinder has been fixed at Rs2,924.31. 

The OGRA had reduced the price of 1 kilogramme of LPG by Rs4 on December 31, 2014.

Meanwhile, inflation in Pakistan continued to rise, with the weekly rate increasing by 0.38 per cent compared to the previous week, according to the Pakistan Bureau of Statistics (PBS) on Friday.

On an annual basis, inflation saw a slight increase of 0.32 per cent compared to the same period last year, according to the PBS.

The Sensitive Price Indicator (SPI) for the week ending February 27, 2025, revealed that out of 51 essential items, 19 saw price increases, 11 experienced a drop in prices, and 21 remained unchanged.

Key items that saw notable price hikes include tomatoes, with an increase of 11.49 per cent, followed by bananas at 8.32 per cent, eggs at 5.43 per cent, chicken at 4.13 per cent, and potatoes at 2.79 per cent. Other items that became more expensive were onions (up by 2.04 per cent), beef (1.68 per cent), sugar (1.55 per cent), and cigarettes (0.51 per cent).