Fuel prices are expected to see an increase of Rs 3 to 5 per litre, effective from January 16, 2025, due to a rise in global crude oil prices, which have hit a three-month high. This adjustment follows a recent surge in international market trends, prompting a revision in local fuel costs.
The anticipated price hike will impact both petrol and diesel. Earlier in January, petrol prices were raised by Rs 0.56 to Rs 252.66 per litre, while high-speed diesel saw a significant increase of Rs 2.96, bringing the cost to Rs 258.34 per litre.
The Oil and Gas Regulatory Authority (OGRA) has submitted its proposed price revisions to the government. These changes are currently awaiting approval from Prime Minister Shehbaz Sharif and the Finance Division. Once approved, the new fuel prices are set to take effect on January 16.
This increase will further raise transportation and logistics costs, adding additional pressure on consumers and businesses already grappling with ongoing inflationary challenges.
