Govt Likely to Increase Petrol and Diesel Prices This Week

MS petrol and High-Speed Diesel (HSD) prices are expected to rise this week due to volatility in international oil prices. The federal government is expected to increase the price of petrol and diesel by Rs. 3 per liter and Rs. 2.9 per liter, respectively, from December 1, 2024. Notably, the Pakistani rupee remained stable at the 277-278 level during the period in review. Considering the above, it is expected that the price of HSD is poised to increase to Rs. 258-259 per liter in Pakistan. Meanwhile, MS rates are expected to increase to Rs. 251-252 per liter. In the previous fortnight, the government kept both petrol and HSD prices unchanged. Prices of kerosene and light diesel oil are expected to remain unchanged. Oil and Gas Regulatory Authority (OGRA) will submit its final recommendations to the government on November 30. The Ministry of Finance will consult with the Prime Minister before finalizing the prices. A formal notification reflecting the new rates will be issued after the Prime Minister’s approval.