The federal government is considering maintaining current petrol prices despite a sharp increase in international oil prices.
According to the latest estimates, high-speed diesel (HSD) prices could rise by about Rs. 56 per litre, while petrol prices may increase by around Rs. 41 per litre if the impact of global markets is fully passed on to consumers.
Read More: Motorway Police Announce New Speed Limits for Vehicles
Petrol and diesel are currently retailing at more than Rs. 322 and Rs. 337 per litre, respectively. Officials have also estimated a possible increase of around Rs. 7 per litre in kerosene prices and up to Rs. 53 per litre in light diesel oil.
During a recent consultative meeting attended by Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir, officials discussed the possibility of using nearly Rs. 389 billion allocated for emergencies to reduce the impact of rising global oil prices and avoid further increases in the coming weeks.
The next petroleum price review is scheduled for March 15, although a decision may be taken earlier depending on developments in the international market.
Authorities are also examining additional fuel conservation measures, including adjustments in gas supply to industrial sectors and the possibility of rationing later in the year to manage electricity demand and protect foreign exchange reserves.
Officials said current petrol and diesel stocks in the country are sufficient for approximately three weeks. However, diesel imports may face logistical challenges because alternative supply routes require longer shipping times.
Saudi Arabia is currently supporting crude oil supplies to help local refineries increase diesel production.
