Islamabad, January 31, 2025 – The government of Pakistan has announced an increase in the prices of petrol and high-speed diesel (HSD) for the first half of February 2025.
The revised prices will take effect from February 1, 2025, impacting consumers across the country.
According to an official notification, the petrol price has risen by Re 1, reaching Rs 257.13 per liter, while high-speed diesel has seen a significant hike of Rs 7, bringing it to Rs 267.95 per liter. This increase comes as a disappointment to citizens who were expecting a reduction in petrol and diesel prices due to recent downward trends in the international petroleum market.
Market analysts attribute the increase to a surge in global fuel prices. Over the past fortnight, the price of high-speed diesel has climbed by more than $2.50 per barrel, while petrol prices recorded a modest rise of around 50 cents per barrel. Additionally, the ex-refinery cost of kerosene has also increased, further influencing domestic fuel prices.
Despite a relatively stable exchange rate, the final adjustment in petrol and diesel prices depends on the remaining one-day Platts data. Government sources indicate that the revised petroleum rates will be officially announced later today. Many consumers are anxiously awaiting the update, hoping for some relief in fuel costs, though indications suggest further financial strain.
The rise in petrol and diesel prices is expected to have a ripple effect on the economy, leading to higher transportation costs, increased prices of essential commodities, and an overall spike in inflation. Many industries reliant on petrol and diesel, such as logistics and manufacturing, are likely to experience higher operational costs, which could translate to price hikes for consumers.
As Pakistan navigates economic challenges, citizens and businesses are bracing for the impact of these increased fuel costs. The government faces mounting pressure to implement strategies that mitigate the burden on consumers while maintaining fiscal stability. Whether additional price adjustments will follow in the coming months remains to be seen, as global fuel trends and economic policies continue to shape the local petroleum market.