From February 1, 2024, the new price of petrol in Pakistan is Rs 259.34 and diesel price is Rs 276.21. The government of Pakistan has reduced the price of petrol by Rs 8 while the price of high speed diesel has been maintained. Petrol prices will remain unchanged till February 16, 2024.
According to reports, there are expected changes in fuel prices for the first half of February 2024. Petrol and kerosene prices are expected to drop by Rs 8 per litre. On the other hand, the prices of diesel and light diesel are expected to increase by Rs 1.50-2 per liter during the same period. Reports mention these adjustments in fuel prices.
If the government is successful in approving a 7-rr per liter increase in the prices of both commodities, the latest price of petrol will be Rs 266.34 per liter while diesel price will be Rs 283.21 per litre. Experts have pointed to recent events within the Middle East, particularly attacks by Houthi rebels on shipping in the Red Sea, that have driven oil prices higher.
In view of the continuous fall in the price of crude oil in the global market and the continuous fall in the exchange rate of the dollar, the price of petroleum products is expected to decrease from February 1, 2024.
New Petrol Prices in Pakistan from 1st February 2024
In Pakistan, the new price of petrol has been reduced by 8 rupees per liter from February 1, 2024. An important announcement regarding petrol prices for 2024 is expected in the upcoming fortnightly review in the country. Many people in the inflation-hit country are hoping for a reduction in petrol and diesel prices, especially since petrol prices have come down. It has been at a high level of Rs 260 per liter for some time. However, the latest updates suggest that petrol prices are unlikely to see a substantial double-digit decline during the upcoming review.
Latest Petrol Prices in Pakistan 1st February 2024
| POLs | Price |
| Petrol | Rs259.34 |
| Diesel | Rs276.21 |
| Decreased by | 8 rupees per litre |