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People across Pakistan may soon face another increase in fuel prices as the government prepares for its next price review on November 1. According to official discussions, petrol and diesel prices are expected to go up slightly for the first half of November.
Sources indicate that the Oil and Gas Regulatory Authority (OGRA) has finalized its price adjustment proposal and will forward it to the Ministry of Finance by October 31. Once approved, the new rates will come into effect from the start of next month.
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Early estimates show a possible rise of Rs. 2.35 per litre for petrol and Rs. 2.50 per litre for high-speed diesel. The final prices, however, will depend on international oil market trends and the exchange rate in the coming days.Experts believe several factors are behind the expected increase. Global crude oil prices have shown a mild upward movement, while higher import costs and local taxes are adding more pressure. The rupee’s depreciation against the US dollar has also made oil imports more expensive for Pakistan.
Economists note that if international oil prices remain stable, the increase may stay minimal this time. However, any rise in global demand or a stronger dollar could push fuel rates higher in the next fortnightly review.
Consumers, already burdened by inflation, are hoping for only a modest adjustment but all eyes remain on November 1 when the new fuel prices will officially be announced.
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