Petroleum Prices Likely to Increase from February 1. Pakistan may see an increase in petroleum product prices from February 1. The Oil and Gas Regulatory Authority has completed its work on fuel price adjustments and has prepared a summary for the Petroleum Division. The final decision will be taken by the federal government.
Expected Increase in High-Speed Diesel and Light Diesel Oil
According to sources, the price of high-speed diesel is expected to increase by Rs. 9.47 per litre. Light diesel oil prices may also rise by Rs. 6.95 per litre. Diesel price hikes directly affect transport and freight costs, which later increase overall inflation.
Kerosene Oil Prices Also Likely to Rise
Kerosene oil prices are also expected to increase by Rs. 3.69 per litre. Kerosene is commonly used for household purposes, especially in rural and low-income areas. Any increase in its price creates difficulties for poor families.
Possible Relief in Petrol Prices
There may be slight relief for petrol consumers. Petrol prices are expected to decrease by Rs. 0.36 per litre or remain unchanged. Experts say that a small reduction in petrol prices does not have a major impact on inflation.
Reasons Behind the Change in Fuel Prices
Officials say the proposed price changes are based on international oil market trends and movements in the dollar exchange rate. Pakistan imports most of its petroleum products, and when the dollar becomes expensive, fuel prices increase.
Government to Take Final Decision
The final decision on petroleum prices will be made after consultations with the Prime Minister. The government sometimes tries to provide relief to the public, but economic pressure and budget constraints limit its options.
Official Notification Expected on January 31
The Petroleum Division is expected to issue an official notification on January 31. After the notification, the new fuel prices will come into effect from February 1 and will be applied at all petrol pumps across the country.
Impact on Inflation and Daily Life
Frequent changes in fuel prices increase inflation. Higher diesel prices raise transport and food costs, which increases daily expenses. The burden of rising fuel prices mostly affects the common people.
Conclusion
Fuel prices in Pakistan are expected to change from February 1. Diesel and kerosene prices may increase, while petrol prices could remain stable. The final decision will be announced on January 31. Rising fuel costs continue to affect inflation, transport charges, and the daily expenses of common people.
