Govt likely to increase petrol price on New Year

Rumours are circulating that petroleum prices in Pakistan might increase as the government is expected to announce adjustments on December 31. 

Sources from the Petroleum Division suggested that diesel prices could rise by over Rs4 per litre, and kerosene oil might see an increase of Rs1 per litre.

However, these changes have not been confirmed, and petrol prices are rumoured to remain unchanged for the time being.

What’s speculation about petrol price changes?

Reportedly, the federal government is likely to announce price adjustments on the final day of 2024. The finance minister will consult with the Prime Minister before finalising any changes.

While some experts speculate that diesel and kerosene oil prices will increase, the situation with petrol prices will remain uncertain until the official announcement is made.

These possible changes are part of the government’s regular review of petroleum prices, which are influenced by both global oil market trends and domestic economic conditions.

Earlier this month, on December 15, the government made adjustments that saw the price of high-speed diesel reduced by Rs3.05 per litre, while petrol prices stayed the same.

If these rumoured increases in petroleum prices are confirmed, it could lead to higher costs for transportation and other industries that rely on these fuels. However, since nothing has been officially confirmed yet, consumers should wait for the government’s announcement to provide clear details.

As the final announcement nears, many will watch closely to see if the price changes are as speculated, or if the government will take another route.