Islamabad, January 31, 2025 – Citizens across Pakistan are anxiously awaiting the announcement of new petroleum prices for the first half of February 2025. With fluctuating global oil prices, citizens are hopeful for a reduction in domestic fuel rates, yet concerns remain over a potential increase.
Recent trends in international petroleum markets have led citizens to anticipate a drop in local fuel prices. However, media sources indicate that citizens might face disappointment, as the government is expected to implement further hikes in petroleum prices instead of reductions.
According to reports, the ex-refinery price of petrol is projected to rise by Rs 1.30 per litre, pushing it from Rs 173.55 to Rs 174.85 per litre. Similarly, high-speed diesel (HSD) prices may surge by Rs 4.50 per litre, increasing from Rs 182.26 to Rs 186.76 per litre.
Kerosene oil is also likely to witness a significant price jump of Rs 6 per litre, moving up from Rs 158.83 to Rs 164.83 per litre, while light diesel oil (LDO) may rise by Rs 5 per litre, climbing from Rs 151.68 to Rs 156.68 per litre. These anticipated hikes have left citizens concerned about the financial burden they may face in the coming weeks.
Market analysts suggest that the increase in fuel prices is linked to a global rise in high-speed diesel costs by over $2.50 per barrel, while petrol prices saw a minor uptick of around 50 cents per barrel in the last fortnight. Additionally, the ex-refinery cost of kerosene has also climbed, contributing to the overall price hike.
While the exchange rate remained relatively stable, the final petroleum prices will be determined after considering the remaining one-day Platts data. The government is set to officially announce the revised rates later today, and citizens are keenly waiting to see whether they will get any relief or if fuel expenses will further strain their budgets.
As the announcement approaches, citizens are voicing their concerns regarding the potential impact on daily expenses, transportation costs, and overall inflation. Many hope that the government will take measures to cushion the economic strain on the public by minimizing the expected increase.
