The next petrol prices revision is just one day away, and everyone’s holding their breath. We know for sure that it’s going to be bad news, but how bad? Sources say that the government might increase the petrol price by Rs. 13 and high-speed diesel price by Rs. 5.5.
Last week, Finance Minister Shaukat Tarin hinted at the incoming petrol price hike during a media interview, saying that the government has no choice. Tarin said if the international oil prices keep going up, the government cannot reduce the petroleum prices artificially in the country.
International Oil Prices
The international crude oil prices were on the rise. The situation has worsened due to the ongoing geopolitical tensions. As of today, the Brent Oil prices have broken a 7-year record by reaching $95.6 per barrel.
The next few days are critical for the world, including Pakistan. If Russia attacks Ukraine, the international oil prices would jump up to $125. That means the petrol price in Pakistan would go up to Rs. 200-225 per litre.
Current Petrol Prices
The current petrol price is at an all-time high of Rs. 147.83 per litre.
The current diesel price is Rs.144.62 per litre.
The current price of kerosene oil is Rs. 116.48 per litre.
The current price of light diesel oil is Rs. 114.54 per litre.
Last time, the Oil and Gas Regulatory Authority (OGRA) proposed to hike petrol price up by Rs. 11 per litre and the high-speed diesel price by Rs. 14. But Prime Minister Imran Khan dismissed OGRA’s proposal and ordered to keep the petrol prices unchanged.
The government will revise the petroleum prices the day after tomorrow, on the 16th of February. From what’s going on in the international oil market, the petrol prices in Pakistan will likely make a big jump this time. So, get ready, people! There are tough times ahead.
13? Thank you team PakWheels, I am going to request my brother to get the car tank filled-up