People wait their turn to fill up with fuel at a gas station in Peshawar on January 30, 2023. Photo: Reuters/File
ISLAMABAD:
Prices of petroleum products are expected to rise up to Rs 6.55 per liter from February 16.
Sources said the price of petrol may increase by Rs 4.39 per litre, while high-speed diesel is likely to see an increase of Rs 5.40 per litre.
Kerosene may increase by Rs 4 per liter and light diesel is expected to increase by Rs 6.55 per liter.
The sources added that work on revising oil prices has already been completed.
The Oil and Gas Regulatory Authority (OGRA) will send a summary on the proposed price adjustment to the Petroleum Division.
Following approval by Prime Minister Shehbaz Sharif, the Petroleum Division is expected to issue a notification announcing the new prices.
If approved, the revised rates will take effect from February 16.
Read: Petrol remains unchanged as govt hikes high-speed diesel by Rs 11.33
Earlier on January 31, the federal government increased the price of high-speed diesel (HSD) by Rs 11.3 per liter for the next fortnight, while the price of petrol remained unchanged.
According to a notification issued by the Ministry of Finance, the price of HSD has been increased from Rs 257.08 per liter to Rs 268.38 per liter, while the price of petrol will remain at Rs 253.17 per liter.
The notification further stated that the revised prices will be effective immediately from February 1 and will remain in effect for the next 15 days.
On January 15, the federal government left oil product prices unchanged. A press release from the Petroleum Division said that petrol price would continue at Rs 253.17 per litre, while HSD would remain at Rs 257.08 per litre, with effect from January 16.
Read more: Government celebrates New Year with Rs 10.28 per liter petrol cut
On December 31, 2025, the government announced a reduction in the prices of petroleum products. The price of petrol was reduced by Rs 10.28 per litre, taking the new price to Rs 253.17 per litre.
Additionally, the price of HSD was reduced by Rs 8.57 per litre, and the new price was fixed at Rs 257.08 per litre.
