In another expected jolt for inflation-hit masses, the Prime Minister Shehbaz Sharif-led government likely to jack up petrol and diesel prices from February 01, 2025.
The surge in crude oil prices has sparked concerns about further hikes in the prices of petroleum products within the country.
According to sources, petrol prices may see an upward revision of Rs3 per litre, while high-speed diesel (HSD) is expected to witness a steeper hike of Rs6 per litre in the upcoming fortnightly review.
The Oil and Gas Regulatory Authority (Ogra) will submit a summary to the relevant ministry, recommending adjustments based on international oil price trends and exchange rate fluctuations.
A final decision will be made after consultations between Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif, with an official announcement expected on January 31.
In the previous review, the government had increased petrol prices by Rs3.47 per litre, bringing the new rate to Rs256.13 per litre. The price of HSD was raised by Rs2.61 per litre, setting the revised rate at Rs260.95 per litre.
