Pakistan raises petrol price by Rs3.47 for rest of January amid global market fluctuations

Petrol station employees wait for customers in Rawalpindi on June 9, 2023. (AFP/File)
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Updated 16 January 2025
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Pakistan raises petrol price by Rs3.47 for rest of January amid global market fluctuations

  • Pakistan adjusts petroleum prices fortnightly to pass on the impact of any change to consumers
  • Fuel price hikes can push consumer prices higher across sectors, causing popular resentment

ISLAMABAD: The Pakistan government on Wednesday raised fuel prices for the remainder of the month, increasing the per-liter rates of petrol and diesel by Rs3.47 and Rs2.61 to align with recent trends in global energy markets.

Fuel prices in Pakistan are reviewed and adjusted fortnightly, based on fluctuations in international energy markets and the rupee-dollar exchange rate.

The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping to sustain the country’s fuel supply chain.

“OGRA [Oil and Gas Regulatory Authority] has worked out the consumer prices of petroleum products in view of fluctuations in [the] international market in the last fortnight,” it informed in a social media post while circulating the notification with revised rates.

It added that the new prices— 260.95 rupees per liter for high-speed diesel and 256.13 rupees per liter for petrol— would be effective starting Jan 16.

Fuel price increases typically push consumer prices higher across sectors, causing economic strain and fueling popular resentment.


Pakistan PM condoles death of Saudi Prince Mishaal bin Badr’s mother

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Pakistan PM condoles death of Saudi Prince Mishaal bin Badr’s mother

  • Saudi prince’s mother passed away on Saturday, drawing condolences from Pakistan, Qatar, other states
  • Pakistan, Saudi Arabia who enjoy close cooperation in defense, economic, trade, investment and other sectors

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday expressed his condolences to the Saudi royal family over the recent passing of Prince Mishaal bin Badr bin Saud bin Abdulaziz Al Saud. 

The Saudi Royal Court announced the death of Prince Mishaal bin Badr’s mother on Saturday. Her funeral prayers were held a day later, at the Imam Turki bin Abdullah Grand Mosque in Riyadh after Asr prayers. 

“I extend my heartfelt condolences to the Royal Family on the passing of the mother of Prince Mishaal bin Badr bin Saud bin Abdulaziz Al Saud,” Sharif wrote on social media platform X. 

He prayed for the highest rank in paradise for the departed and hoped the royal family would be able to bear the loss with fortitude. 

“Our prayers are with the Custodian of the Two Holy Mosques, His Royal Highness the Crown Prince, and the entire Royal Family in this moment of profound grief,” Sharif added. 

Pakistan and Saudi Arabia are close allies that cooperate in several sectors such as defense, trade, investment, tourism, agriculture, mines and minerals and others. The two countries signed a landmark defense pact in September, according to which both agreed to treat an attack on one country as an attack against both of them. 

Apart from being a vital trade ally, Saudi Arabia also serves as the top source for foreign remittances for Pakistan, where over 2 million expatriates reside.