Pakistan is likely to witness a significant increase in petrol prices from March 1, with an expected rise of Rs4 to Rs4.50 per litre. Meanwhile, high-speed diesel (HSD) may see a slight reduction of less than Rs1 per litre.
The price hike is attributed to fluctuations in global oil markets and the depreciation of the Pakistani rupee against the US dollar. Despite a recent drop in international oil prices, the exchange rate impact has pushed local fuel costs higher.
Currently, petrol is priced at Rs256.13 per litre, while HSD stands at Rs263.95 per litre. The government imposes taxes of approximately Rs76 per litre on both fuels, including a petroleum levy and customs duties.
The final price adjustment will be determined on February 28, based on global crude oil rates and currency exchange trends.
