ISLAMABAD: Petrol and diesel prices in Pakistan are likely to increase by Rs2.3-5 per litre for the second half of January 2025, as global crude oil prices hit a three-week high.
The increase comes amid concerns over supply disruptions during the winter and rising energy demand.
Brent crude futures rose 0.35 percent to $77.32 a barrel, a three-month high. The increase also represents the third consecutive weekly gain for crude, after falling to a three-year low. Analysts attribute the increase to concerns over supply disruptions rather than broader economic uncertainty.
The Oil and Gas Regulatory Authority (OGRA) has proposed revised prices, which will be finalized by Prime Minister Shehbaz Sharif and the Finance Division. Once approved, the updated rates will be implemented from January 16.
This expected increase follows the recent adjustment of fuel prices by the government in early January 2025 by Rs. 0.56, bringing the rate to Rs. 252.66 per litre while the price of high-speed diesel saw an increase of Rs. 2.96, now costing Rs. 258.34 per litre.
