As global oil prices fluctuate, many in Pakistan are worried about how much more petrol prices will rise. This time the prices of both petrol and high speed diesel are expected to increase by Rs 9 per litre.
Expect prices to go up in February due to the increase in global prices and import costs. Surprisingly, the currency exchange rate remains mostly steady during this period.
In the global market, petrol and diesel prices went up in the last two weeks. This is affecting Pakistan’s state-owned petroleum corporation as they have to pay more for importing. Also, there’s talk about prices going up for kerosene and light diesel in the next two weeks.
Expected Petrol Price in February 2024
| POLs | Prices |
| Petrol | Rs285 |
| Diesel | Rs281 |
Current Petrol Price in Pakistan
| POLs | Prices |
| Petrol | Rs259.34 |
| Diesel | Rs276.21 |
In the last part of January, the rupee improved by Rs1.5 against the US dollar, settling around Rs280. At the same time, the Pakistan State Oil (PSO) faced a challenge, dealing with a higher bill of $2 per barrel for both petrol and diesel.
In the recent price check, the temporary government lightened the load for the public by cutting petrol prices by Rs8 per litre. Internationally, petrol prices shifted gears, going up from $83 to $89 per barrel last week. Diesel didn’t stay behind, climbing from $93 to $97 per barrel during the same period.