ISLAMABAD – Petrol and diesel prices are expected to increase in Pakistan for second fortnight of November 2024 in upcoming review as International Monetary Fund (IMF) has suggested imposition of General Sales Tax (GST) on petroleum products and increase the petroleum levy (PDL) to Rs70 per liter.
The federal government is currently holding discussions with the global lender to find the solutions to the economic challenges being faced by the South Asian country.
If the demands are met, the petrol and diesel prices are expected to witness a significant increase for next half of November 2024.
Current Petrol Prices in Pakistan
On October 31, the government of Pakistan jacked up petrol and diesel rates for the first half of November, with new petrol price standing at Rs248.38 per liter.
A notification shared by Finance Ministry said the price of petrol moved up by Rs1.35 per liter while high-speed diesel (HSD) prices for the next fortnight increased by Rs3.85 to Rs255.14.
Currently, the petrol price stands at Rs248.38 while diesel is available for Rs255.14 per litre.
Expected Petrol, Diesel Prices in Pakistan
As of now, petroleum prices are exempted from General Sales Tax while the petroleum levy stood at Rs60 per litre. If the GST is imposed and levy is jacked up to Rs70, the petroleum prices are expected to go up significantly from November 16.
