Expected: Increase in Petrol Prices on February 1st

Islamabad: According to sources; There is a possibility that the government may increase the Petrol Prices starting from February 1st.

The caretaker government, in its latest adjustment, can potentially raise the price of petrol by 7.85 rupees per liter and high-speed diesel by 2.06 rupees per liter.

The anticipated increase in prices in the first 15 days of the next month is primarily attributed to tensions in the Middle East due to ongoing Israeli attacks on Palestinians in Gaza and Houthi attacks on commercial ships.

International markets have strongly reacted to attacks on maritime vessels, leading to a hike in prices.

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In the international market from January 16, 2024, motor petrol has reached $6 per barrel and diesel prices have surged to $3.7 as international companies have increased their premiums on motor spirit, and a significant hike has been observed in high-speed diesel.

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