ISLAMABAD – Pakistanis may face another round of fuel price hikes as global crude oil prices continue to climb, with petrol and diesel rates expected to rise by up to Rs6.60 per litre for the next 15 days, according to industry sources.
The proposed increase includes:
Petrol: Up by Rs6.60 per litre
High-Speed Diesel (HSD): Up by Rs5.27 per litre
However, there is a bit of relief in sight for users of other fuels. Prices of kerosene and light diesel oil may go down by Rs3.74 and Rs2.23 per litre respectively.
The Oil and Gas Regulatory Authority (OGRA) has finalized its review based on current international oil market trends and shared the summary with the federal government. The final decision will be made after Prime Minister Shehbaz Sharif reviews and approves the recommendations. If approved, the new prices will take effect for the next fortnight, as part of the routine bi-monthly fuel pricing review.
This comes on the heels of a major hike earlier this month. On July 1, petrol prices jumped by Rs8.36 to Rs266.79 per litre, while diesel went up Rs10.39 to Rs272.98, largely due to supply shocks caused by the Iran-Israel conflict.
Given that Pakistan imports about 85% of its fuel needs, the country remains highly vulnerable to global price fluctuations. Experts warn that if the current upward trend in oil markets continues, more fuel price hikes could follow — adding pressure on inflation and household budgets.
