Petroleum Prices Likely to Increase from November 1

Islamabad: The government is expected to increase the prices of petroleum products for the next 15 days, with the new rates taking effect from **November 1**.

According to sources, the **Oil and Gas Regulatory Authority (OGRA)** has prepared a summary proposing adjustments in fuel prices, which will be sent to the **Ministry of Finance** on **October 31**. The final decision will be made after approval from the ministry.

Preliminary estimates suggest that the price of **petrol may rise by Rs 2.35 per liter**, while **high-speed diesel (HSD)** is expected to see an increase of **Rs 2.50 per liter**. If approved, the new prices will be implemented from November 1.

Economic experts say that the **slight increase in global crude oil prices** and **higher import costs** have put upward pressure on local fuel prices. Additionally, the **depreciation of the Pakistani rupee** against the U.S. dollar and **higher domestic taxes** are also contributing factors.

Analysts note that if international oil prices remain stable, the government may keep the upcoming price hike limited. However, if the dollar strengthens further or global crude prices rise, **fuel prices could increase again** in the next fortnightly review.