In response to a recent surge in power tariffs, the federal government of Pakistan is poised to raise petroleum prices, effective from February 29. Sources indicate that preparations have been finalized for the implementation of these price adjustments.
It is anticipated that petrol prices will climb by Rs4.50 per liter, while diesel may witness a Rs2.50 increase. Additionally, Kerosene oil prices could rise by Rs2.92 per liter, while prices for light diesel oil are expected to remain unchanged.
The current price of crude oil in the Brent oil market stands at $82.52 per barrel.
The Oil and Gas Regulatory Authority (OGRA) is scheduled to submit a summary of the proposed price hike to the Ministry of Petroleum on February 29. Subsequently, the Finance Minister, in consultation with the Prime Minister, will announce the new prices, which will be effective from March 1 to 15.
