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HomeTrendingGovt jacks up Petrol Prices in Pakistan – February 2024

Govt jacks up Petrol Prices in Pakistan – February 2024

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Govt jacks up Petrol Prices in Pakistan – February 2024
  • Petrol Prices Increase Amid Middle East Tensions
  • Petrol price increased to Rs272.89 per litre.

In response to the ongoing tensions in the Middle East, particularly the conflict in Gaza, the outgoing caretaker government of Pakistan has approved a significant hike in petrol prices. The decision follows the recommendation of the Oil and Gas Regulatory Authority (OGRA). The adjusted prices will come into effect from February 1, 2024, at midnight.

A statement issued by the Finance Division announced the government’s decision to implement changes in the current prices of petroleum products for the upcoming fortnight. The approved increase amounts to Rs13.55 per litre. The move is likely influenced by the geopolitical situation in the Middle East, especially Israel’s continued military actions in Gaza.

The revised petrol prices aim to address the economic impact of escalating tensions in the region. As citizens brace for higher fuel costs, the government emphasizes the need to navigate these challenges during the specified fortnight starting from February 1, 2024.

ProductsExisting priceNew priceIncrease/Decrease
PetrolRs259.34Rs272.89+Rs13.55
High Speed Diesel (HSD)Rs276.21Rs278.96+Rs2.75

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Petrol and Diesel Prices Witness Adjustments Amid Regional Tensions

In response to the prevailing regional tensions, the outgoing caretaker government of Pakistan has implemented revisions in the prices of petroleum products, effective from February 1, 2024. The adjustments were recommended by the Oil and Gas Regulatory Authority (OGRA).

Following the latest revision, the price of petrol has surged to Rs272.89 per litre, reflecting an increase of Rs13.55 per litre. Similarly, high-speed diesel now stands at Rs278.96 per litre, with a notable hike of Rs2.75 per litre.

On the other hand, the price of kerosene oil has experienced a slight decrease, now priced at Rs186.62 per litre after a reduction of Rs0.24 per litre. Meanwhile, the price of light-speed diesel has seen an increase, reaching Rs166.86 per litre, marking a rise of Rs2.03 per litre.

These adjustments in fuel prices aim to address the economic implications of the ongoing regional tensions, particularly in light of the continued conflict in Gaza. The government emphasizes the importance of these changes during the specified fortnight starting from February 1, 2024.

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