The Petrol Prices in Pakistan expected to increase from 1st December

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Islamabad - The federal government of Pakistan is expected to announce modifications to the prices of petrol and diesel during its next biweekly review in the middle of December 2024. On November 30, 2024, revised petroleum prices will be revealed. These new prices will come into force from December 1, 2024, to December 15, 2024.

Expected Hike in Petrol Price

Reportedly, the government is preparing to maintain an upward international price trend towards petrol prices, with an increase of Rs 10-15 per litre expected in the first half of December 2024. After weighing revenue collection, international prices, and stock availability on a number of issues, the Government will make a final call on the hike in prices.

Current Petrol Prices in Pakistan

Currently, the price of petrol, in Pakistan is Rs248.38 per litre as of November 2024, while high-speed diesel is being sold at Rs255.14 per litre.

Why are Petrol Prices going up?

Changes in the world's oil markets are the cause of an anticipated increase in fuel prices.

Because of rising international crude oil prices, fuel prices must be revised to recover the budget and align local prices with international prices.

Effect on Consumers

According to petrol price increase, it might significantly impact transportation costs, commodity prices, and the overall cost of life; consumers, businesses, and all other stakeholders are alerted to impending changes in fuel prices.