People wait for their turn to get fuel at a petrol station in Peshawar on January 30, 2023. Photo: Reuters/ File
ISLAMABAD:
Petroleum product prices are expected to increase by up to Rs6.55 per litre from February 16.
Sources said the price of petrol may rise by Rs4.39 per litre, while high-speed diesel is likely to see an increase of Rs5.40 per litre.
Kerosene oil may go up by Rs4 per litre, and light diesel oil is expected to increase by Rs6.55 per litre.
The working on revised petroleum prices has been completed, sources added.
The Oil and Gas Regulatory Authority (OGRA) will forward a summary regarding the proposed price adjustment to the Petroleum Division.
After approval from Prime Minister Shehbaz Sharif, the Petroleum Division is expected to issue a notification announcing the new prices.
If approved, the revised rates will come into effect from February 16.
Read:Â Petrol remains unchanged as govt hikes high-speed diesel by Rs11.3
Earlier on January 31, the federal government increased the price of high-speed diesel (HSD) by Rs11.3 per litre for the next fortnight, while the petrol price remained unchanged.
According to a notification issued by the Ministry of Finance, the price of HSD has risen from Rs257.08 per litre to Rs268.38 per litre, while the price of petrol will remain at Rs253.17 per litre.
The notification further stated that the revised prices take effect immediately from Feb 1 and will remain in force for the next 15 days.
On January 15, the federal government kept the prices of petroleum products unchanged. A press release from the Petroleum Division said the price of petrol would continue at Rs253.17 per litre, while HSD would remain at Rs257.08 per litre, effective from January 16.
Read more:Â Govt rings in New Year with Rs10.28 per litre petrol cut
On December 31, 2025, the government announced a reduction in the prices of petroleum products. The price of petrol was reduced by Rs10.28 per litre, bringing the new price to Rs253.17 per litre.
Additionally, the price of HSDÂ was slashed by Rs8.57 per litre, with the new price set at Rs257.08 per litre.
