Petrol and Diesel Prices Likely to Rise by Rs 3-5 per Liter in Second Half of January 2025
Islamabad:Petrol and diesel prices in Pakistan are expected to increase by Rs 3 to Rs 5 per liter during the second half of January 2025, as global crude oil prices have reached a three-week high. Experts suggest that disruptions in supply and the rising demand for energy during the winter season are likely to contribute to the price hike.
In the international market, Brent crude futures have risen by 0.35%, reaching $77.32 per barrel, marking the highest level in three months. This increase comes after three consecutive weeks of price hikes, the first such rise after crude oil prices hit a three-year low.
Analysts attribute the rise in global oil prices to concerns over supply disruptions rather than broader economic uncertainties.
According to media reports, the Oil and Gas Regulatory Authority (OGRA) has proposed revised fuel prices, which will be finalized by Prime Minister Shehbaz Sharif and the Finance Division. Once approved, the updated prices will come into effect from January 16.
This anticipated increase follows the recent adjustment in fuel prices at the beginning of January 2025. Petrol prices were raised by Rs 0.56, bringing the cost to Rs 252.66 per liter, while high-speed diesel prices increased by Rs 2.96, now standing at Rs 258.34 per liter.
