Fuel prices in Pakistan are expected to see a significant reduction for the upcoming fortnight starting February 16, 2025. According to official and industry sources, petrol prices may drop by Rs2.49 per litre, while high-speed diesel (HSD) could see a more substantial decrease of Rs9.11 per litre.
If implemented, the new petrol price is expected to be Rs254.64 per litre, down from Rs257.13 per litre. Meanwhile, diesel prices may drop to Rs288.84 per litre from the current Rs297.95 per litre.
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Experts attribute the expected price cuts to global oil market trends. Recent developments, including US President Donald Trump’s statements on increasing hydrocarbon production and his conversation with Russian President Vladimir Putin on resolving the Russia-Ukraine conflict, have contributed to a decline in international oil prices.
The reduction in petroleum prices is expected to provide relief to consumers and industries, particularly the transport and agriculture sectors, which rely heavily on diesel. However, the final decision on the revised prices will be made after approval from the government, based on recommendations from the Oil and Gas Regulatory Authority (OGRA).
If approved, the new rates will take effect from February 16, bringing some much-needed relief amid inflationary pressures.
