Petrol prices in Pakistan: After the recent rise in electricity prices, the government is preparing to raise petrol prices in the first half of March 2024, which will further burden the financially struggling public.
According to sources, all necessary preparations for the impending petrol prices revision have been completed, paving the way for changes set to come into effect from March 1.
The suggested changes mean that the price of petrol is expected to go up by Rs 4.50 per liter, while diesel prices may rise by Rs 2.50 per liter.
If the new increase is implemented that means the petrol price will jump from Rs 272.62 to Rs 277.12 and diesel price from Rs 287.33 to Rs 289.83.
Moreover, the proposal includes a potential increase in the cost of kerosene, with projections suggesting a rise of Rs 2.92 per liter.
However, the price of light diesel oil is expected to remain the same, offering some respite amidst the overall escalation.
The Oil and Gas Regulatory Authority (OGRA) is responsible for creating and sending an official suggestion for price changes to the Ministry of Petroleum. They plan to submit the proposal on February 29th.
After getting it, the Ministry of Petroleum will work with the Finance Minister to decide on the new price plan by talking with the Prime Minister.
Afterward, the updated prices for petrol will be officially revealed, and they will take effect from March 1st to March 15th.
