Petrol price likely to increase from October 16

After recent price cuts, petrol prices in Pakistan are expected to rise again due to increasing international market rates.

According to officials, from October 16, the price of petrol may go up by about Rs5.50 per litre, while high-speed diesel (HSD) could increase by around Rs13 per litre, and these new prices will remain effective until the end of the month.

Globally, the price of petrol has gone up to about $79 per barrel, compared to $76 earlier, while HSD prices have risen from $80.5 to around $87.5 per barrel.

Despite these increases, the additional cost (import premium) for both petrol and HSD has stayed steady at $8.7 and $5 per barrel, with the exchange rate also remaining stable.

Earlier, on October 1, the government had reduced petrol prices by Rs2.07 per litre, bringing the cost down from Rs249.10 to Rs247.03 per litre for the first half of the month.