Petrol and Diesel Prices Set To Increase Next Week In Pakistan. The government is expected to raise the price of petrol by Rs. 5.5 per liter and diesel by Rs. 13 per liter, starting from October 16, 2024. This comes after five consecutive decreases, bringing a potential shock for consumers.
A sharp rise in international oil prices mainly drives the increase. Over the past fortnight, crude oil prices surged to $81 per barrel, while petrol and diesel prices reached $79 and $87.5 per barrel, respectively. Despite the Pakistani rupee remaining stable at around 277-278 during this time, these global factors are likely to push local fuel prices higher.
The cost of importing petrol and diesel also stayed relatively stable, with premiums of $8.7 and $5 per barrel, respectively. These international increases are still expected to impact local prices. As a result, high-speed diesel (HSD) prices could rise to Rs. 259-260 per liter, while petrol prices may increase to Rs. 252-253 per liter.
Previously, the government had lowered petrol prices by Rs. 2.07 per liter, bringing the price down to Rs. 247.03. Diesel prices were also reduced by Rs. 3.4, making the price Rs. 246.29 per liter. This time, though, the trend is reversing due to global market pressures.
Check the Potential Price Changes
| Fuel Type | Current Price (Rs./Liter) | Expected Price (Rs./Liter) |
|---|---|---|
| Petrol (MS) | 247.03 | 252-253 |
| Diesel (HSD) | 246.29 | 259-260 |
In summary, rising fuel prices will impact consumers, so they should prepare accordingly. Stay tuned for more information.
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