KARACHI – Petrol, and Diesel rates are expected to come down from February 16, 2025, with rates likely to come down by Rs2-3 per litre for second half of this month.
The federal government is expected to pass on relief for public ahead of Holy Month of Ramadan amid drop in international rates. Sources told Pakistan Observer that petrol prices are expected to come down to Rs255 while diesel prices are likely to hover around Rs265 per litre. The price adjustments are amid fluctuations in the global oil market and imposition of Inland Freight Equalization Margin (IFEM).
The final decision will be made by Prime Minister after OGRA’s proposal and new prices will be announced on late Saturday.
Petrol Price in Pakistan
| Product | Price |
|---|---|
| Super | 257.13 |
| Diesel | 267.95 |
Global Oil Rates dip
The relief is being considered as Oil prices plunged over 1percent, due to possibility of peace talks between Russia and Ukraine and an increase in US crude inventories.
With latest changes, Brent crude dropped 1.4pc to $74.14 per barrel, and WTI tumbles by 1.5pc to $70.33. Market sentiment shifted from supply concerns to expectations of adequate supply, partly due to a slight rise in Russian crude production.
The news of potential peace talks, alongside higher US oil stockpiles, outweighed the impact of higher US inflation figures, which could lead to a cautious Federal Reserve stance on interest rate cuts this year.
Last month, Pakistani government jacked up petrol prices by Rs1 per liter and diesel by Rs7 per liter for the first half of February 2025. This change follows a review by Ogra, driven by rising global oil prices, including a $2 increase in Brent crude prices.
