KARACHI – The government is set to announce new petrol and diesel prices for the second half of December 2024, with expectations of some adjustments in fuel rates.
According to sources, petrol prices are likely to increase slightly, while diesel prices are expected to drop by around Rs 4 per liter, effective from December 16. These changes come amid fluctuations in the global oil market and the implementation of the Inland Freight Equalization Margin (IFEM).
Petrol and Diesel Prices in Pakistan
The price of petrol is anticipated to be around Rs 253 per liter, while diesel is expected to be priced at Rs 254.50 per liter.
Global Oil Price Update
Oil prices have experienced fluctuations in recent weeks, with the premium for petrol decreasing to $8.84 per barrel. These adjustments could affect consumption patterns and assist the government in achieving its petroleum levy target, which reached Rs 110 billion in November 2024, a 19% increase compared to 2023.
Previous Petrol Price Review
In the latest price revision for the first fortnight of December 2024, authorities raised petrol and diesel prices. Petrol saw an increase of Rs 3.72, while High-Speed Diesel prices were hiked by Rs 3.29.
| POLs | Price |
|---|---|
| Petrol | Rs252.10 |
| Diesel | Rs258.43 |
