The federal government is poised to review petrol and diesel prices in line with international trends in the upcoming fortnightly assessment on February 15.
Global Oil Prices Surge Amid Middle East Tensions
Amid escalating tensions in the Middle East, global oil prices have surged, signaling a potential increase in petroleum prices in Pakistan.
Election Update: PTI-backed Candidates Lead
On February 8, Pakistan held elections, and the Election Commission of Pakistan (ECP) has announced provisional results. PTI-backed candidates are leading in National Assembly constituencies, followed by PML-N and PPP. The process of forming national and provincial governments will commence after the official results are declared.
Petroleum Price Revision Delayed
With the caretaker government overseeing the transition, the announcement of revised petroleum product prices for the second fortnight of February 2024 is expected to be delayed, as the formation of the new government will require additional time.
Expected and Current Petrol, Diesel Prices
It is anticipated that the government will likely increase petrol and diesel prices from February 16 due to the surge in international prices. However, the interim government might opt to maintain the prices unchanged, deferring the decision to the incoming administration.
As of now, the per litre petrol price stands at Rs272.89, while diesel is being sold for Rs276.21 per litre.