KARACHI – Pakistan is set to announce the updated petrol and diesel prices for the second half of December 2024. Sources reveal that while petrol prices are expected to rise slightly, diesel prices are anticipated to drop by approximately Rs4 per liter from December 16. These adjustments come amid global oil market fluctuations and the imposition of Inland Freight Equalization Margin (IFEM).
Expected Petrol and Diesel Prices
The price of petrol is projected to be around Rs253 per liter, while diesel is expected to cost about Rs254.50 per liter.
Global Oil Market Update
In recent weeks, global oil prices have seen fluctuations, with the premium for petrol reducing to $8.84 per barrel. These changes may influence consumption and support the government's efforts to reach its petroleum levy target. Notably, Pakistan's petroleum levy reached Rs110 billion in November 2024, reflecting a 19% increase from the previous year.
Earlier Price Adjustments
In the first half of December 2024, authorities raised both petrol and diesel prices. Petrol saw a rise of Rs3.72, while high-speed diesel prices increased by Rs3.29.
Current and New Petrol Prices
- Current petrol price: Rs252.10
- Current diesel price: Rs258.43 The new rates will take effect from December 16, 2024.
