By Staff Reporter
ISLAMABAD: The government has raised the price of high-speed diesel by Rs11.30 per litre for the next fortnight while keeping petrol rates unchanged, citing higher international crude oil prices driven by regional tensions and a US naval deployment to the Persian Gulf.
The Petroleum Division announced the adjustment late on Saturday, following recommendations from the Oil and Gas Regulatory Authority (Ogra). The new diesel price, effective until Feb. 15, is set at Rs268.38 per litre, up from Rs257.08 in the previous 15-day period. “The increase has been made due to higher crude oil prices over the past week amid regional tensions and an order by the US president to deploy a US Navy strike group to the Persian Gulf,” the division said in a statement. It added that this development had pushed up high-speed diesel prices in Arab and other international markets.
High-speed diesel is a critical fuel for Pakistan’s industrial and business sectors, powering trucks, buses and large generators. Business groups are expected to react strongly to the Rs11.30 per litre hike, which could add to transportation and production costs amid already high inflation pressures.
Petrol, mainly used by cars, motorcycles and small generators, remains unchanged at Rs253.17 per litre. Jet fuel rates have also seen a slight increase for the coming fortnight due to the diesel adjustment.
Separately, Ogra notified an increase in liquefied petroleum gas (LPG) prices by Rs6.37 per kilogram, affecting households and commercial users grappling with natural gas shortages in parts of the country. The price of an 11.8-kg domestic LPG cylinder has risen by Rs75.21 to Rs2,667.40 for February, from Rs2,592.19 the previous month. The per-kilogram rate now stands at Rs266.05.
Ogra’s notification warned distributors and retailers against charging above the official prices, stating that strict action would be taken on complaints of overcharging in various markets. The LPG producer price is tied to Saudi Aramco’s contract price and the U.S. dollar exchange rate. Compared to the previous month, Saudi Aramco-CP rose by 3.30 percent, while the average dollar exchange rate fell by 0.14 percent.
Despite the current global political tensions, the US Energy Information Administration has forecast Brent crude prices to average lower in 2026 and 2027, as global production outpaces demand. International analysts predict global liquid fuels production will rise by 1.4 million barrels per day in 2026, driven by higher output from key producers.
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