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Federal government has been boasting about record low inflation in recent history, however, government is set to increase the the prices of petroleum products from 1st February, 2025.
According to reports, Diesel prices may go up by Rs 6 per liter, whereas Petrol prices may face an increase by Rs 3 per liter.
It is worth mentioning that global Crude oil rates have been trending at $ 78 per barrel.
The Oil and Gas Regulatory Authority (OGRA) will send a summary of the recommendations before the relevant ministry, which includes adjustments in prices following trends of international oil along with fluctuations in the exchange rate.
Also read: Electricity prices likely to go down by Rs.1.30 per unit
The decision will be final after consulting Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif. The decision is likely to be announced on 31 January.
In the last review, the government increased petrol price by Rs. 3.47 per liter, which fixed the new price at Rs. 256.13 per liter. The government also increased high-speed diesel prices by Rs. 2.61 per liter to fix the rate at Rs. 260.95 per liter.
