The federal government is likely to increase the prices of petrol and diesel in its upcoming fortnightly review, which is scheduled for Friday. Sources revealed that a summary proposing a rise in fuel prices has been forwarded for approval. If approved, the new rates will take effect from November 1, potentially adding further pressure to consumers already coping with inflation and rising living costs.
Under the proposed revision, the price of petrol is expected to rise by Rs1.48 per liter, bringing it up from the current Rs263.02 to Rs264.50 per liter. Similarly, the price of high-speed diesel is proposed to increase by Rs1.38 per liter, taking it from Rs275.42 to Rs276.80 per liter. These changes come as part of the government’s routine price adjustment mechanism, which reflects global oil market trends and exchange rate movements.
Read more : Petrol prices likely to rise by up to Rs2.43 per litre from November 1
Moreover, kerosene oil—commonly used for cooking and heating in rural areas—is proposed to rise by Rs2.34 per liter, while light diesel oil may see a minor increase of Rs0.48 per liter. These adjustments, though small in value, could still impact low-income households and transport sectors that rely heavily on these fuels. The final decision will be announced after approval from the Ministry of Finance and the Prime Minister’s Office.
Experts believe the increase in fuel prices is linked to recent fluctuations in international crude oil rates and the depreciation of the Pakistani rupee against the US dollar. Since Pakistan imports most of its petroleum products, even slight changes in global prices directly influence domestic fuel rates. Additionally, adjustments in the petroleum levy and general sales tax also play a key role in determining the final consumer price.
Read more : Govt raises petrol, diesel prices by around Rs 4
If implemented, this would mark another consecutive rise in fuel prices within months, affecting transportation costs, goods delivery, and electricity generation. Economists warn that higher fuel prices could trigger a new wave of inflation across multiple sectors. However, government officials maintain that the revision is necessary to keep pricing aligned with international trends and to ensure stability in the country’s energy supply chain.