Business Desk 
Nov 14, 2024
Petrol price in Pakistan is anticipated to increase by Rs2.58 per litre starting November 16 due to recent fluctuations in global crude oil prices, according to sources cited by The News.
This potential adjustment follows a 12-day period of rising oil prices, with high-speed diesel (HSD) also expected to see an increase of Rs5.91 per litre.
The sources indicate that the final decision on these price changes will be taken just before the next fortnight begins. “Three days are left in ending the current fortnight, and during the said three days, more fluctuations in oil prices would help the authorities to take the updated decision on November 16. The final decision for POL prices would be taken by the prime minister of Pakistan,” they said.
With the ongoing global shifts in oil rates, the cost of imported fuel for Pakistan has risen. The average FOB (freight on board) price of Arab crude oil has stayed around $75.49 per barrel, while 92 RON gasoline has been priced at $76.65 per barrel, and gasoline with 10ppm sulphur content reached $87.60 per barrel. The import premium on petrol increased to $9.80 per barrel, whereas the premium on HSD held steady at $5 per barrel.
If these adjustments proceed, the new petrol price will likely increase to Rs250.96 per litre, up from the current Rs248.38. Diesel is expected to reach Rs261.05 per litre, rising from Rs255.14. In addition to petrol and diesel, other fuels may also see hikes. Kerosene oil prices could rise by Rs5.54 per litre, bringing the price to Rs167.08, while light diesel oil (LDO) may increase by Rs5.90 to Rs153.41 per litre.
With the anticipated increase, these fuel price adjustments will impact consumers across Pakistan, as authorities work to balance the impact of fluctuating international oil rates.
