Pakistan Considers Weekly Petrol Price Adjustments Instead of Every 15 Days

The federal government has presented key proposals regarding the determination of petroleum product prices.

According to sources, the Ministry of Energy has prepared a working paper on the proposals and briefed the Prime Minister, suggesting that “petroleum product prices be set on a weekly basis instead of every 15 days.”

Sources further indicated that petrol and diesel prices would be adjusted according to international market fluctuations, and the Prime Minister would make revision decisions in consultation with the economic team.

There are indications of potentially sharp increases in petroleum prices in Pakistan.

Given the ongoing tense situation in the Middle East, the government is expected to make a decision soon. Authorities have also intensified monitoring to prevent hoarding of petroleum products.

Pakistan is facing the possibility of significant increases in petroleum product prices.

Iran continues to maintain control over the Strait of Hormuz, preventing a slowdown in global oil price hikes. Currently, Brent crude oil has reached $83.94 per barrel, marking a 3.12% increase, while U.S. oil prices have risen to $77.33 per barrel, up 3.58%. Gas prices have also recorded a 2.57% rise.

In the international market, “the price of petrol per barrel is expected to rise from $79.14 to $97.92,” while high-speed diesel could surge from $93.02 to $138 per barrel.

According to sources, by March 15, “the ex-refinery price of petrol in the country could increase to Rs 32 per liter,” with the ex-refinery price expected to jump from Rs 153.50 to Rs 186.47 per liter.

Sources further indicate that “the high-speed diesel price per liter may see an increase of more than Rs 50” by the same date.