Petrol, diesel prices likely to increase from Jan 16

ISLAMABAD: The petrol and diesel prices are expected to increase from January 16, 2025 (Thursday) due to higher international prices.

The price of petrol has been estimated to increase by Rs 3.53 per liter and the price of diesel by Rs 3.66 per liter for the next fortnight from yesterday, Thursday (January 16, 2025).

The expected increase in POL prices is being attributed to the increase in oil prices in the international market due to United States (US) restrictions on oil exports to China and India.

Crude oil prices surged past $81 a barrel, the highest since August 2024, on fears that US shipping restrictions could affect Russian oil supplies in the wake of US sanctions.

Industry and government sources said an increase in kerosene oil by Rs 4.98 per liter and light diesel oil (LDO) by Rs 6.20 per liter has been worked out, but the final decision rests with decision makers in the finance ministry.

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Earlier, Pakistan Stock Exchange (PSX) witnessed a positive trading session, with the benchmark KSE-100 Index gaining 804 points.

By the close of the trading day, the KSE-100 Index had added 574 points, closing at 114,804 points.

Throughout the session, shares of 463 companies were traded. Among these, the share prices of 269 companies increased, while 137 companies saw a decline in their share values.

In total, over 589.4 million shares were traded, with the total value of transactions exceeding Rs. 32.58 billion.