ISLAMABAD: High-speed diesel (HSD) and petrol rates have been increased up to Rs 7 per litre on Friday for the next fortnight starting from February 1, 2025 owing to higher international prices.
The latest calculation of Oil and Gas Regulatory Authority (OGRA) as of Jan 31, HSD rate has shown an increase of 7 per litre and petrol by Re 1 per litre. HSD price has gone up to Rs 267.95 from Rs 260.95 per litre. Whereas, petrol rate has gone up to Rs 257.13 from Rs 256.13 per litre
“OGRA reviewed and adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market” according to Finance Division statement.
New price are based on the bullish trend in global oil market. The Brent prices have increased around $2 per barrel last fortnight ending on January 31. The average prices of HSD rose by around $2.50 per barrel globally while petrol up by about 50 cents per barrel during previous fortnight. The premium on petrol increased to $8.84 per barrel while it sustained on HSD. The exchange rate also remained stable.
The government is charging about Rs76 per litre tax on petrol and HSD. Although the general sales tax (GST) is zero on all petroleum products, the government charges Rs60 per litre PDL on both products.
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