Petrol Prices Likely to Rise Ahead of Ramadan, Diesel May See Slight Drop
There is an expected increase in petrol prices before the start of Ramadan in Pakistan. From March 1, petrol prices are projected to rise by 4 to 4.5 rupees per liter. However, due to fluctuations in international oil prices and exchange rates, there could be a slight decrease in the price of diesel.
The anticipated hike in petrol prices is mainly attributed to a modest rise in global oil prices and a decrease in the exchange rate against the US dollar. Despite this, Brent crude oil prices have remained relatively stable over the past 10 days.
Currently, the ex-depot price of petrol stands at 256.13 rupees per liter, while the price of High-Speed Diesel (HSD) is 263.95 rupees per liter. The official price of kerosene oil is 171.65 rupees per liter, but it is being sold in the market at 300-350 rupees per liter.
The rising fuel prices could add pressure on household budgets as Ramadan approaches, making it a point of concern for many consumers.
