Petrol price to see massive hike from October 16

After consecutive reductions, petrol price in Pakistan are set to increase again in line with the international prices.

According to official sources, the cost of major petroleum products, including petrol and high-speed diesel (HSD), is expected to rise by around Rs5.50 and Rs13 per litre, respectively, starting October 16, and will remain in effect until the end of the month.

Currently, petrol’s average price in the international market has risen to nearly $79 per barrel, up from about $76, while HSD has climbed from $80.5 to approximately $87.5 per barrel.

Despite these international price hikes, the import premium for both petrol and HSD remained stable at $8.7 and $5 per barrel, respectively, with the exchange rate remaining relatively consistent during this period.

Earlier, on October 1, the government has cut the price of petrol by Rs2.07 per litre for the next fortnight, bringing the rates down from Rs249.10 to Rs247.03 per litre.