ISLAMABAD – Petrol and diesel prices in Pakistan are expected to see a major hike of up to Rs15 per litre starting tonight at 12 am, sources revealed on Monday.
According to insiders, petrol prices may increase by Rs10.25 per litre, while high-speed diesel (HSD) could rise by Rs15.01 per litre. The new prices, if approved, will remain in effect for the next 15 days.
The final decision will be made by the Ministry of Finance after consulting Prime Minister Shehbaz Sharif. The Oil and Gas Regulatory Authority (OGRA) is set to submit its recommendations to the ministry later today.
Earlier, the oil industry had already submitted its own price calculations to OGRA. These proposed adjustments are reportedly based on the rising international crude oil prices and fluctuations in the exchange rate.
However, officials stated that the federal government has full authority to adjust fuel prices regardless of market trends and may consider relief measures for the public.
Now, citizens are anxiously waiting to see whether the government will offer relief in this inflation-hit period or bow to global pressures and increase fuel costs once again.