Petrol Prices in Pakistan Expected from February 16

The Federal Government will announce new petrol and diesel prices in Pakistan for the upcoming fortnight on 16 February 2024. According to some reports, the price of all petroleum products may witness an increase due to escalating tensions in the Middle East impacting international oil prices.

Furthermore, the announcement for the new petrol and diesel prices in Pakistan will be made by the caretaker government, which is also busy in preparation for handing control over to the newly elected government after the Election Commission of Pakistan (ECP) finalizes results of the general elections.

It is possible that caretaker government may defer changing petrol and diesel prices from 16 February 2024 and hand over the responsibility to the incoming government. The final decision will be announced by midnight on 15 February 2024 and if the government does decide to revise prices of petroleum products, we may witness an increase due to oil prices in the global market.

During the last fortnightly review, the federal government raised prices of petrol and diesel by Rs. 13.55 per litre and Rs. 2.75 per litre, respectively. Currently, the price of petrol in Pakistan is Rs. 272.89 per litre, while the price of diesel stands at Rs. 278.96 per litre.