ISLAMABAD: The government has kept the price of petrol unchanged for the next 15 days but has raised the price of high-speed diesel (HSD) by Rs11.30 per litre.
According to a notification issued by the Petroleum Division, the new fuel prices have been set on the recommendations of the Oil and Gas Regulatory Authority (Ogra).
The price of HSD has been increased to Rs268.38 per litre for the next fortnight ending February 15, compared to Rs257.08 per litre in the previous 15 days.
Officials said the increase was due to higher global crude oil prices over the past week. Regional tensions and a decision by the US president to deploy a US Navy strike group to the Persian Gulf also pushed up international oil prices. As a result, HSD prices rose in Arab and other global markets.
HSD is mainly used by trucks, buses, industries and large generators. Therefore, a strong reaction from the business community is expected over the sharp increase.
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Meanwhile, the price of petrol, mostly used by cars, motorcycles and small generators, has been kept unchanged at Rs253.17 per litre.
Due to the increase in HSD prices, jet fuel rates have also been raised slightly for the next 15 days.
Despite the tense global situation, the US Energy Information Administration has forecast that Brent crude oil prices will average lower in 2026 and 2027. The forecast says global oil production is expected to remain higher than demand.
International analysts have also predicted that global liquid fuel production will rise by 1.4 million barrels per day in 2026 due to increased output.
LPG prices increased
Ogra has also announced new prices for liquefied petroleum gas (LPG) for February, showing an increase due to higher winter demand in international markets.
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The LPG consumer price has been raised by Rs6.37 per kg to Rs226.05 per kg for February, compared to Rs219.67 per kg in January.
Ogra said the LPG producer price is linked to the Saudi Aramco contract price and the dollar exchange rate. During the past month, the Saudi Aramco contract price increased by 3.83 per cent, while the average dollar rate fell slightly by 0.14 per cent.
As a result, the price of an 11.8kg LPG cylinder has gone up by Rs75.71 for February.
