Brace Yourself: Possible Increase of Rs9 per Litre
In a recent development, there’s a looming specter of a substantial surge in petrol prices in Pakistan, set to kick in from February 1st, 2024. This anticipated hike is closely tied to the upward trajectory of global oil prices.
The Countdown: January 31st Review
Mark your calendars for January 31st as it holds the key to unveiling the outcome of the impending biweekly review. Speculations suggest a noteworthy surge of Rs9 per litre in both petrol and diesel prices nationwide.
This review gains added significance as it precedes the general elections scheduled for February 8th, adding an extra layer of impact on the public sentiment.
Recent Trends: A Rollercoaster of Price Fluctuations
In the most recent biweekly review on January 15, the Oil and Gas Regulatory Authority (OGRA) made headlines by announcing a substantial reduction of Rs8 per litre in petrol prices. Meanwhile, the price of high-speed diesel in Pakistan maintained its stability at Rs276.21 per litre.
Current Snapshot: Petrol Priced at Rs259.34 per Litre
As of now, the prevailing petrol price in Pakistan stands at Rs259.34 per litre, applicable nationwide. However, this figure is on shaky ground, awaiting the upcoming biweekly review scheduled for February 1st.
Possible Scenario: Rs9 per Litre Surge
If the anticipated increase of Rs9 per litre materializes on January 31st, brace yourself for a new petrol price of Rs268.34 per litre from February 1st to February 15th.
Stay Informed: Await Official Government Announcement
It’s crucial to note that the confirmed petrol prices are contingent upon the official government announcement post the review. Once announced, these revised prices will be applicable across Pakistan, impacting major cities such as Lahore, Islamabad, Rawalpindi, Sialkot, Peshawar, and Karachi.
In the face of these potential changes, stay informed, keep an eye on the upcoming review, and be prepared for adjustments in your budget. As the nation navigates through these economic fluctuations, being aware and proactive becomes the key to financial stability.