The federal government is likely to increase petrol prices by Rs 3.50 per litre for the next two weeks, starting January 16, 2025.
Prices for other fuels may also rise, with light-speed diesel expected to go up by Rs 5 per litre and kerosene oil by more than Rs 6. These changes are due to fluctuations in global oil prices.
The petroleum industry has sent its recommendations to the Oil and Gas Regulatory Authority (OGRA). OGRA will review the proposed prices on January 15 and finalize its decision.
After OGRA’s review, the new rates will be sent to Prime Minister Shehbaz Sharif for approval. Once approved, the Ministry of Finance will issue an official notification announcing the updated prices.
These price hikes reflect ongoing shifts in international oil markets and could impact the cost of transportation and daily essentials for consumers. As global oil trends continue to affect local prices, the government remains focused on balancing economic challenges with public welfare.
The formal announcement of the new fuel prices is expected soon, and the public is advised to plan accordingly.
