ISLAMABAD (Kashmir English): According to a recent report, fuel prices are expected to go up for the next 15 days due to global market trends.
A working paper prepared by the Oil Companies Advisory Council (OCAC) has predicted an increase in the prices of various petroleum products. This proposal has been sent to the Oil and Gas Regulatory Authority (OGRA), which will review it and forward its recommendations to the federal government. The final decision on the new fuel prices will be made by Prime Minister Shehbaz Sharif.
As per the expected revisions:
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Initial estimates revealed that the price of petrol may increase by up to Rs6.60 per litre.
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High-Speed Diesel (HSD) could go up by Rs 5.27 per litre
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Kerosene is expected to become cheaper by Rs3.74 per litre
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Light diesel oil (LDO) may be reduced by Rs2.23 per litre.
These changes are part of the government’s regular fortnightly price review. The expected increase in fuel prices is linked to the upward trend in international crude oil prices and adjustments in the exchange rate.
On July 1, the federal government increased fuel prices significantly for the first fortnight of the month, attributing the hike to global market volatility amid the 12-day Iran-Israel conflict.
Petrol rose by Rs8.36 to Rs266.79 per litre, and high-speed diesel by Rs10.39 to Rs272.98, based on OGRA’s recommendation.
Pakistan, which imports around 85% of its petroleum needs, was directly impacted by the Middle East crisis.
If the new prices are approved, they will take effect from July 16, 2025.
