The federal government is preparing to revise the prices of petroleum products, with new rates set to take effect from December 1 to December 15, 2024. The updated prices will be announced on the night of November 30, according to a report by Express News.
Sources indicate that petrol prices are likely to increase by PKR 3.15 per litre, high-speed diesel by PKR 3.20 per litre, and kerosene oil by PKR 4 per litre. This potential hike is attributed to fluctuations in global crude oil prices, which continue to impact domestic markets.
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Currently, petrol is sold at PKR 248.38 per litre, high-speed diesel at PKR 255.14 per litre, light diesel oil at PKR 147.51 per litre, and kerosene oil at PKR 161.54 per litre. The proposed changes could place an additional financial burden on consumers and industries already facing economic challenges.
The Ministry of Petroleum is finalising its recommendations for submission to the Ministry of Finance. A decision will be made after consultations between Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif.
Global oil market volatility has been a consistent factor influencing domestic fuel prices. The government’s decision will reflect these dynamics and is expected to spark debate over its impact on inflation and the cost of living in Pakistan.
