LAHORE – As the government tried to control inflation, petrol and diesel prices are expected to jump to Rs13 per litre from October 16, 2024.
In the upcoming fortnight review, petrol and High-Speed Diesel rates are set to climb in light of rise in prices of crude oil. As per the changes in the international market, federal government is likely to jack up Petrol price by Rs5 per liter and diesel by Rs13 per liter.
The forecast for this increase is based on recent spikes in international prices, with crude oil, petrol, and diesel. In last two weeks, the local currency remained stable around 277-278. The recent development comes amid unrest in Lebanon and Israel as Middle East unrest grows.
Current Petrol Price in Pakistan
| Fuel Type | Current Price |
|---|---|
| Petrol (MS) | 247.03 |
| High-Speed Diesel (HSD) | 246.29 |
In first half of October, petrol price is Rs247 and diesel at 246.29
Expected Petrol Price in Pakistan
| POL | Expected Rates |
|---|---|
| Petrol (MS) | 252 |
| High-Speed Diesel (HSD) | 260 |
With approval of the hike, petrol price will hover around 252 per litre while diesel price will set at 260 per litre.
With increase in petrol prices, transportation and production costs will increase which could lead to higher prices for goods and services.
If approved, this would be the first hike in petrol and diesel rates in last two and half months as government passed on relief to people.
