Petrol price in Pakistan today: another increase on the cards

ISLAMABAD: Consumers in Pakistan may have to brace for another increase in petrol prices, as reports suggest the government is considering a fresh adjustment in fuel rates for the fortnight starting November 1, 2025.

According to early estimates, the price of petrol in Pakistan may rise by around Rs1.50 per litre today, taking it from Rs263.02 to Rs264.52 per litre.

The price of high-speed diesel (HSD) could also see a minor jump of Rs1.40 per litre, reaching Rs276.82 from the existing Rs275.42 per litre. Meanwhile, kerosene oil is projected to go up by Rs2.35 per litre to Rs184.06, and light diesel oil (LDO) may increase slightly by 49 paisa to Rs163.25 per litre.

The final decision on the new petrol rate is expected to be announced after 9 PM today, once the Ministry of Finance reviews the summary submitted by the Oil and Gas Regulatory Authority (Ogra).

Conflicting predictions

While some reports hint at an increase of up to Rs3 per litre, others suggest the government may choose to keep prices unchanged for the first half of November. However, given the current market dynamics, a slight increase appears more likely.

At present, petrol prices in Pakistan are already over Rs14 per litre higher compared to the same period last year. For reference, on November 1 last year, petrol was priced at Rs248.38 per litre after a Rs1.35 increase, while diesel rose by Rs3.85 to Rs255.14 per litre.

Global oil market trends

Globally, oil prices have been slipping, but the trend is unlikely to offer much relief to local consumers. On Friday, Brent crude futures eased 12 cents to $64.88 a barrel, while US West Texas Intermediate fell 21 cents to $60.36 a barrel.

The decline came as the US dollar strengthened following Federal Reserve Chair Jerome Powell’s comments suggesting no guarantee of an interest rate cut in December. Additionally, weak factory data from China and rising output from major oil producers have weighed on prices, pushing both Brent and WTI down nearly 3 percent for October.

Little relief expected for local consumers

Despite a dip in global prices, Pakistani consumers are unlikely to see any meaningful reduction at the pump. Analysts say the benefit of cheaper oil in the international market is being offset by currency pressures, taxes, and import costs.

For now, uncertainty remains over whether the government will raise petrol prices slightly or keep them unchanged. The picture is expected to become clearer later tonight or before midnight when the official announcement is made.