Pakistanis are bracing for another wave of fuel price adjustments, with petrol prices expected to rise, becoming even costlier by Rs. 4 to Rs. 4.50 per liter starting March 1, 2025. Meanwhile, diesel prices are likely to see a marginal drop, offering slight relief to some consumers. These changes come amid fluctuating global oil prices and shifts in the exchange rate, according to industry insiders.
The ex-depot price of petrol is projected to climb following final calculations on February 28. On the other hand, high-speed diesel (HSD) and kerosene prices are expected to decrease by less than Rs. 1 per liter. This mixed bag of adjustments reflects the complex interplay of international market trends and local economic factors.
Currently, petrol is priced at Rs. 256.13 per liter, while HSD stands at Rs. 263.95 per liter. Kerosene, officially listed at Rs. 171.65 per liter, is reportedly being sold in the market at inflated rates ranging between Rs. 300 and Rs. 350 per liter, highlighting a significant disparity between official and actual prices.
Why petrol prices will see a massive hike?
The anticipated rise in petrol prices is largely driven by a slight uptick in global oil prices and the Pakistani rupee’s depreciation against the US dollar. Interestingly, Brent crude oil prices have remained relatively stable over the past ten days, underscoring the impact of currency fluctuations on local fuel costs.
This latest price adjustment comes at a time when Pakistanis are already grappling with inflationary pressures. While the reduction in diesel prices may benefit industries and transportation sectors reliant on the fuel, the hike in petrol costs is expected to hit everyday consumers hard.
As the government prepares to finalize the new rates, citizens and businesses alike are keeping a close eye on how these changes will impact their budgets. The disparity in kerosene prices, in particular, raises questions about market regulation and the need for stricter oversight to protect consumers.
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