In Islamabad, the federal government is set to adjust petrol and diesel prices on February 15, aligning with the global market trends. The ongoing geopolitical tensions in the Middle East have led to a rise in oil prices worldwide, potentially impacting fuel costs in Pakistan.
Following the February 8 elections, the Election Commission of Pakistan (ECP) has released preliminary results, showing a lead for PTI-supported candidates, with PML-N and PPP trailing. The formation of national and provincial governments will commence once the official results are declared.
With the caretaker government in place, there is speculation that petrol and diesel prices might see an adjustment for the latter half of February 2024. The decision could either result in increased prices due to the international surge in oil costs or remain unchanged, pending actions by the incoming government.
As of now, the price for a liter of petrol is recorded at Rs272.89, and diesel is priced at Rs276.21 per litre. This pricing framework is under review, with the global oil market’s fluctuations and the domestic political landscape influencing future rates.
The ongoing developments, both internationally and within Pakistan political sphere, suggest potential adjustments in the fuel price structure. Stakeholders are closely monitoring these changes, anticipating the government’s decision post-election, which will significantly impact petrol and diesel prices moving forward.