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Thursday January 23, 2025

Hike in petrol price by Rs3.53 per litre, diesel by Rs3.66 likely

Anticipated hike in petroleum prices is attributed to rising international oil prices

By Khalid Mustafa
January 15, 2025
A worker at a petrol station seen refueling a cars fuel tank. — Reuters/File
A worker at a petrol station seen refueling a car's fuel tank. — Reuters/File

ISLAMABAD: Starting Thursday (today), petrol prices are expected to increase by Rs3.53 per litre, while diesel prices may rise by Rs3.66 per litre for the next fortnight.

The anticipated hike in petroleum prices is attributed to rising international oil prices, driven by the US sanctions on oil exports to China and India.

In the wake of these sanctions, the price of crude oil has surged past $81 per barrel—the highest since August 2024—amid concern over the impact of US shipping restrictions on Russian oil supplies. Industrial and official sources have indicated that kerosene prices are likely to increase by Rs4.98 per litre, while light diesel oil (LDO) may rise by Rs6.20 per litre. However, the Finance Ministry would make the final decision.