ISLAMABAD: In the forthcoming fortnightly review, which takes place on February 15, the federal government will adjust the pricing of gasoline and diesel while taking into account global trends.
The rising global oil prices are a result of the ongoing conflict in the Middle East, and this trend may lead to an increase in petroleum prices in Pakistan.
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In the meantime, Pakistan had elections on February 8 and the Election Commission of Pakistan (ECP) has released the preliminary results. In National Assembly constituencies, candidates supported by the PTI led the field, followed by the PML-N and PPP.
After the formal results are announced, the process of creating national and provincial administrations will begin. Since it will take some time to create the new administration, it is anticipated that the caretaker government will issue the updated petroleum product pricing for the second week of February 2024.
Due to rising global costs, the government of Pakistan is anticipated to raise the price of gasoline and diesel starting on February 16. It is anticipated that the interim administration will maintain price stability and let the market choose the future arrangement.
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