Expected new petrol prices in Pakistan from Feb 16 as decision looms

ISLAMABAD – Masses in Pakistan are expected to get a relief in petrol prices as the federal government is set for fortnightly review today, Saturday.

The Oil and Gas Regulatory Authority (OGRA) will sent a summary to the government for revising petroleum price for second half of February 2025. It comes after the industry shared its working regarding petroleum products with OGRA.

Reports said the federal government would decrease the petroleum prices in line with downward trend in global rates.

The final decision about revision in petroleum prices will be taken after consultation with Prime Minister Shehbaz Sharif with new prices coming into effect from February 16, 2025.

Expected Petrol Prices from Sunday

Reports said the government is expected to decrease the high speed diesel price by Rs9.11 per litre to Rs258.84.

The petrol rate is likely to move down by Rs2.50 to reach Rs254.63 per litre in Pakistan. However, the prices of kerosene oil and light speed diesel are expected to drop by Rs3.45 and Rs5.60 per litre.

The Ministry of Finance will issue a notification for new petrol prices for second fortnight of February 2025 tonight.

Current Petrol Prices

Currently, the petrol prices in Pakistan stand at Rs257.13 per litre while high speed diesel is being sold for Rs267.95 per litre. These prices are applicable till Feb 15.

The relief is being considered as Oil prices plunged over 1percent, due to possibility of peace talks between Russia and Ukraine and an increase in US crude inventories.

With latest changes, Brent crude dropped 1.4pc to $74.14 per barrel, and WTI tumbles by 1.5pc to $70.33. Market sentiment shifted from supply concerns to expectations of adequate supply, partly due to a slight rise in Russian crude production.