The cost of petrol in the country might go up before the general elections on February 8. The caretaker government is expected to raise petrol and diesel prices by Rs 7 per liter from January 31 to February 15. This would be the first increase since November 1, 2023.

Experts suggest that this time could be different due to recent attacks on ships by Houthi rebels in the Middle East, causing a global increase in oil prices. The rise in international petrol prices from $83 to $89 and high-speed diesel from $93 to $97 a barrel, along with a hike in crude oil prices from $76 to $80 a barrel, is likely to impact fuel prices in Pakistan.

Additionally, experts point out that the stability of the Pakistani rupee against the US dollar might contribute to the expected increase in fuel prices, highlighting that without this stability, the cost of petroleum products could have risen earlier.

Read more about “Worldwide oil prices go up due to a positive forecast from the IEA and disruptions in US oil production.”