Petrol Prices in Pakistan Likely to Rise from June 16

News Desk

Islamabad:  Petrol and diesel prices in Pakistan are expected to rise from June 16, with a significant hike anticipated in the price of high-speed diesel, according to a preliminary price review prepared by relevant authorities.

Official sources revealed that the working paper, compiled ahead of the fortnightly fuel price review, proposes an increase of Rs1.12 per litre for petrol and Rs5.27 per litre for high-speed diesel. Additionally, kerosene oil may see a hike of Rs4.13 per litre.

The final decision will be made by the Ministry of Finance following consultation with Prime Minister Shehbaz Sharif. The revision is based on recommendations from the Oil and Gas Regulatory Authority (OGRA), reflecting fluctuations in international oil prices and domestic tax adjustments.

Current Prices

Earlier this month, the government slightly raised the petrol price by Re1 per litre—from Rs252.63 to Rs253.63—while keeping the high-speed diesel price unchanged at Rs254.64 per litre.

In an official statement, the Ministry of Finance cited global oil market trends and currency exchange fluctuations as reasons for the periodic adjustments, which are carried out every two weeks based on OGRA’s assessments.

Economic Impact

While the proposed increase in petrol is relatively modest, the diesel price hike is expected to have far-reaching consequences. Diesel is extensively used in Pakistan’s transport and agriculture sectors, meaning the Rs5.27 increase could push up logistics and commodity costs.

Rising fuel prices are likely to worsen inflationary pressures already burdening commuters, small businesses, and daily wage earners.

Higher operational costs could also affect supply chains and raise prices of essential goods, further squeezing household budgets. The government is expected to announce the final prices on June 15.