The federal government is likely to increase petroleum prices for the upcoming fortnight due to rising rates in the global market.
According to the sources, petrol prices may see an increase of Rs1.24 per liter, while diesel could rise by Rs4.
Similarly, light diesel oil might go up by Rs5.93, and kerosene oil could see a hike of up to Rs5 per liter.
The rise in international prices is expected to directly impact on domestic fuel rates, leading the government to check and adjust them accordingly.
The Oil and Gas Regulatory Authority (OGRA) will finalize the new rates based on international market trends on January 31.
PM Shehbaz Sharif will give final approval for the fuel price changes, and the updated rates will be applicable from February 1 and remain in place until February 15.
This potential increase follows a recent price hike on January 15, when petrol rates rose by Rs3.47 per liter and high-speed diesel by Rs2.63 per liter.
At that time, petrol was priced at Rs256.13 per liter, while diesel stood at Rs260.95 per liter.
Earlier, on January 1, 2025, the government had also raised petroleum prices, with petrol going up by Rs0.56 per liter and high-speed diesel increasing by Rs2.96 per liter.
