Petrol and diesel prices may rise again in Pakistan today

Petrol and diesel prices in Pakistan could increase again according to sources putting further pressure on consumers already facing higher fuel costs.

Petrol and diesel prices in Pakistan could increase again according to sources putting further pressure on consumers already facing higher fuel costs.

Sources said petrol may become Rs4.42 per litre more expensive while the price of diesel could rise by Rs6.10 per litre.

According to sources within the Oil and Gas Regulatory Authority (OGRA) the proposed increase is linked to changes in international oil prices and other factors used to calculate domestic petroleum rates.

However, the reported figures are only an expected increase at this stage. The government is expected to announce the revised petroleum prices after completing the relevant review and approval process.

Another increase in fuel prices could affect transportation costs and place additional pressure on household budgets.

Higher diesel prices may also have a wider impact because diesel is extensively used by commercial transport, agriculture and other sectors of the economy. Any increase in transportation costs can eventually affect the prices of goods and services.

The possible increase comes as the government has also approved a targeted petrol relief scheme for lower-income consumers.

Under the recently approved relief programme, eligible users of two- and three-wheelers are set to receive a weekly fuel relief of Rs500, while owners of vehicles up to 800cc will receive Rs1,000 in relief over a 10-day period.

Final prices yet to be announced

The expected increase of Rs4.42 per litre for petrol and Rs6.10 per litre for diesel is based on information from sources and should not be considered the final notified price.

Consumers will have to wait for the government’s official announcement to know the new petrol and diesel rates.