Pakistan is expected to raise petrol and diesel prices for the first half of February 2025 as global oil prices have slightly increased after a recent decline. This price adjustment will likely impact citizens across the country.
According to reports, petrol prices may rise by Rs3 per litre, while the price of high-speed diesel could increase by Rs6 per litre. The Oil and Gas Regulatory Authority (OGRA) will submit a recommendation to the federal government, and the final decision will be made after consulting Prime Minister Shehbaz Sharif. The revised prices are expected to be announced on January 31, 2025, and will take effect from February 1, 2025.
In the previous review, the government increased the price of petrol by Rs3.47 per litre, setting it at Rs256.13 per litre. Similarly, the price of high-speed diesel was raised by Rs2.61 per litre, reaching Rs260.95 per litre.
Despite the fuel price adjustments, Pakistan’s economy has shown signs of improvement during the first half of the fiscal year 2024-25. The country’s GDP grew by 2.5 percent, recovering from the contraction it experienced in the previous fiscal year. This economic progress has been attributed to effective macroeconomic management, targeted inflation control, and stable fiscal and external accounts.
Inflation has significantly decreased, dropping to 7.2 percent in the first half of FY2025 from a staggering 28.8 percent during the same period last year. This decline was supported by a stable exchange rate, easing global prices, and government policies aimed at maintaining economic stability.
As Pakistan navigates these economic and financial challenges, the potential increase in fuel prices reflects the government’s response to global market fluctuations. While such adjustments may place an additional burden on consumers, the country’s improving economic performance offers some hope for a more stable future.
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