As part of the upcoming fortnightly fuel price review, the government is likely to slightly reduce petrol price from February 1, while increasing rates for other petroleum products, industry sources said on Thursday.
According to initial estimates, petrol prices may drop by Rs. 0.36 per litre. In contrast, the price of high-speed diesel is expected to rise sharply by Rs. 9.47 per litre, while kerosene oil may see an increase of Rs. 3.69 per litre. The price of light diesel oil is also likely to go up by Rs. 6.95 per litre.
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The Oil and Gas Regulatory Authority will submit its price recommendations to the Petroleum Division on January 30. The Ministry of Finance will finalize the prices after consultation with Prime Minister Shehbaz Sharif.
In the previous review on January 15, the government kept petrol and high-speed diesel prices unchanged at Rs. 253.17 and Rs. 257.08 per litre, respectively, after raising the petroleum levy, leaving consumers without relief.
Petrol is primarily used by private commuters, including two-wheelers and rickshaws, and even small changes directly affect household budgets. High-speed diesel, widely used in transport, agriculture, and freight, has broader inflationary effects, as higher diesel costs push up food and commodity prices.
