The Government of Pakistan is considering keeping petroleum prices unchanged despite rising global oil prices, according to officials familiar with ongoing discussions.
Latest estimates suggest that high-speed diesel (HSD) prices could increase by about Rs. 56 per litre, while petrol prices may rise by around Rs. 41 per litre if international price adjustments are passed on to consumers.
At present, petrol is retailing at over Rs. 322 per litre, while diesel is selling for more than Rs. 337 per litre across the country.
Officials also indicated that kerosene prices could increase by about Rs. 7 per litre, while light diesel oil may rise by nearly Rs. 53 per litre under the current pricing formula.
However, the government is exploring options to absorb some of the increase. During a consultative meeting attended by Shehbaz Sharif and Asim Munir, officials discussed using around Rs. 389 billion in emergency funds to cushion the impact of higher global oil prices.
The next petroleum price review is scheduled for March 15, although authorities may take a decision earlier depending on international market developments.
Officials are also examining additional energy conservation measures, including adjustments to gas supplies for industrial sectors and possible energy rationing later in the year to manage electricity demand and protect foreign exchange reserves.
Current fuel inventories in Pakistan are estimated to be sufficient for about three weeks, though diesel imports could face logistical challenges due to longer shipping routes. Meanwhile, Saudi Arabia is supporting crude oil supplies to help local refineries increase diesel production.
