ISLAMABAD: The government is likely to raise the prices of petroleum products effective February 16, sources said, as authorities review updated pricing calculations.
According to initial estimates, fuel rates may increase between Rs4 and Rs6.50 per litre. The proposed adjustment includes a Rs4.39 per litre rise in petrol prices and a Rs5.40 per litre increase in high-speed diesel.
Kerosene oil is expected to become costlier by Rs4 per litre, while light diesel oil may see a hike of Rs6.55 per litre. Officials cautioned that the increase could be higher if additional taxes or levies are introduced.
The Oil and Gas Regulatory Authority (OGRA) is set to submit its pricing summary to the Petroleum Division, with the Ministry of Finance responsible for taking the final decision. The federal government will weigh its revenue needs before announcing the revised fuel prices.
