People wait their turn to get fuel at a gas station in Peshawar on January 30, 2023. Photo: Reuters/ File
ISLAMABAD:
Petroleum product prices are expected to increase by up to Rs6.55 per liter from February 16.
Sources said the price of petrol may increase by Rs 4.39 per litre, while high-speed diesel is likely to see an increase of Rs 5.40 per litre.
Kerosene oil may rise by Rs4 per liter and light diesel is expected to rise by Rs6.55 per litre.
Work on revised oil prices has been completed, sources added.
The Oil and Gas Regulatory Authority (OGRA) will forward a summary of the proposed price adjustment to the Petroleum Division.
After approval from Prime Minister Shehbaz Sharif, the Petroleum Division is expected to issue a notification on the new prices.
If approved, the revised rates will take effect from February 16.
Read: Petrol remains unchanged as government hikes high-speed diesel by Rs11.3
Earlier on January 31, the federal government hiked the price of high-speed diesel (HSD) by Rs11.3 per liter for the next fortnight, while the price of petrol remained unchanged.
According to a notification from the Ministry of Finance, the price of HSD has increased from Rs.257.08. per liter at Rs 268.38. per liter while the price of petrol remains at Rs 253.17. per litre.
The notification further stated that the revised rates will be effective immediately from February 1 and will remain in effect for the next 15 days.
On January 15, the federal government kept the prices of petroleum products unchanged. A Petroleum Division press release said the price of petrol would continue at Rs253.17 per litre, while HSD would remain at Rs257.08 per litre, with effect from January 16.
Read more: The government is ringing in the New Year with Rs10.28 per liter of petrol
On 31 December 2025, the government announced a reduction in the prices of petroleum products. The price of petrol was reduced by Rs 10.28 per litre, bringing the new price to Rs 253.17 per litre.
Additionally, the price of HSD was cut by Rs8.57 per litre, with the new price set at Rs257.08 per litre.
