The federal government is expected to revise petroleum prices from February 1 as part of its fortnightly fuel price adjustment, with a slight reduction in petrol prices likely, while diesel and other fuel products may see a notable increase, industry sources said on Thursday.
According to initial estimates, the price of petrol is likely to be reduced by Rs0.36 per litre. In contrast, the price of high-speed diesel is expected to increase by Rs9.47 per litre, while kerosene oil may rise by Rs3.69 per litre. Light diesel oil is also projected to see an increase of Rs6.95 per litre.
The Oil and Gas Regulatory Authority (Ogra) is scheduled to submit its price recommendations to the Petroleum Division on January 30. The final decision on fuel prices will be taken by the Ministry of Finance after consultations with Prime Minister Shehbaz Sharif.
In the previous review announced on January 15, the government maintained existing fuel prices, keeping petrol at Rs253.17 per litre and high-speed diesel at Rs257.08 per litre until the end of January.
Despite stable international oil prices at the time, consumers did not receive relief due to an increase in the petroleum levy on petrol by Rs4.62 per litre and Rs0.80 per litre on high-speed diesel.
Petrol is primarily used by commuters, including those operating motorcycles, rickshaws and small vehicles, making its price particularly sensitive for middle- and lower-middle-income households. Even minor changes can have a noticeable impact on daily commuting costs.
High-speed diesel, on the other hand, is widely used in freight transport, public transport, railways and agricultural machinery. Any increase in diesel prices is considered inflationary, as it directly affects transportation costs and contributes to higher prices of essential goods, particularly food items.
The anticipated adjustments highlight the continued pressure on energy pricing amid broader fiscal and inflationary challenges.
