Petrol prices in Pakistan are expected to increase starting January 16, 2025. The federal government is likely to raise petrol prices by Rs3 to Rs6 per liter due to rising global oil prices, particularly following recent sanctions on Russian oil supplies, contributing to higher international market rates. As of January 14, Brent crude oil was trading at approximately $80.79 per barrel, marking a significant increase from previous weeks.
Potential Price Increase
Petrol: The price is expected to rise by approximately Rs 3.00 to Rs 5.00 per liter, which would bring the cost of petrol to around Rs 250 per liter.
Diesel (HSD): The expected increase is around Rs 3.00 per liter, which could bring the new diesel price to approximately Rs 254.29 per liter.
Current and Expected Prices for Petrol and Diesel
| POLs | Current Price (PKR) | Expected Price (PKR) | Price Difference (PKR) |
| Petrol Rate in Pakistan | Rs. 252.66 | Rs. 255.66 to Rs. 257.66 | Rs. 3 to Rs. 5 |
| Diesel Rate in Pakistan | Rs. 258.34 | Rs. 261.34 to Rs. 263.34 | Rs. 3 to Rs. 5 |
Economic Scenario
This price hike is due to rising international oil prices, with crude oil prices increasing from $77.5 per barrel to $79 per barrel. The rise in global oil prices is being closely monitored, and the local price adjustments reflect the impact of these trends, along with fluctuations in the exchange rate and domestic taxation mechanisms.
Impact on Consumers
While price increases are challenging for consumers already burdened by inflation, the government’s decision is mainly in response to the rising crude oil costs. The expected price hikes will likely impact transportation costs, influencing the prices of other goods and services.
As the official decision is expected to be announced later today, many consumers are bracing for the adjustments, hoping the government will consider ways to cushion the effects on household budgets.
