ISLAMABAD: Petroleum product prices are expected to rise from November 1, with an anticipated increase of up to Rs2.43 per litre, ARY News reported, citing industry sources. The Oil and Gas Regulatory Authority (OGRA) has prepared its initial fortnightly pricing summary for petroleum products.
According to sources, petrol prices may increase by Rs1.48 per litre, while high-speed diesel (HSD) could see a rise of Rs1.34 per litre. Kerosene oil prices are projected to go up by Rs2.43 per litre and light diesel oil by 49 paisa per litre. The proposal will be forwarded to the Petroleum Division on October 31, which, after consulting the Finance Ministry, will send it to the Prime Minister for approval. The final notification of revised prices will be issued the same night.
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In the previous fortnightly review effective October 16, the government had reduced fuel prices to provide temporary relief amid fluctuating global oil markets. Petrol was lowered by Rs5.66 per litre to Rs263.02, while HSD was reduced by Rs1.39 per litre to Rs275.41.
Despite recent adjustments, Pakistani consumers continue to bear heavy taxation on petroleum products. Documents obtained by ARY News revealed that taxes and duties on petrol total Rs101.49 per litre, including a petroleum development levy (PDL) of Rs75.52 per litre, a climate levy of Rs2.50, and combined margins for dealers and oil companies amounting to Rs16.51 per litre. Diesel carries total taxes of Rs95.74 per litre, including a PDL of Rs74.51 and similar levies and margins.
The upcoming revision in prices reflects ongoing global fluctuations and the government’s effort to balance consumer relief with fiscal requirements.