Islamabad: After a series of reductions in the prices of petroleum products, there is now a possibility of an increase in the prices of petrol and diesel in the country before the general elections, scheduled for February 8.
According to media reports, the caretaker government is considering a hike of up to 7 rupees per liter in the prices of petrol and diesel from January 31 to February 15. However, the final decision in this regard is yet to be made after taking into consideration the recommendations of the Oil and Gas Regulatory Authority (OGRA).
If the prices of petroleum products are increased, it would be the first time since November 1, 2023, that the prices would go up after a series of reductions.
According to experts, this time the factors for the increase are linked to the recent geopolitical situation where in the international market the price of oil has gone up following the attacks by Houthis on ships in the Red Sea. However, the experts say that due to the stability of the Pakistani rupee against the US dollar, only a minor increase is expected in the prices of petrol and diesel in Pakistan.
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