Petrol price likely to rise from Dec 16

Official prices for petroleum products will be announced by Ministry of Finance
A large number of vehicles stand in a queue to fill their vehicle petrol tanks at a petrol pump in Islamabad, on May 24, 2022. — Online
A large number of vehicles stand in a queue to fill their vehicle petrol tanks at a petrol pump in Islamabad, on May 24, 2022. — Online

The federal government is reportedly planning to increase the petrol price by Rs1.43 per litre, which is set to be effective from December 16 till December 31, 2025.

According to estimates shared by Arif Habib Limited (AHL), the government will announce a major drop in high seed diesel (HSD) price by Rs13.69 per litre, making the new price of Rs265.96 per litre.

The expected price adjustments follow a sharp decline in international oil prices and a normalisation of price spreads. Data compiled by AHL shows that the average international price of gas oil (diesel) dropped by 7.8% to $81.40 per barrel in the first half of December, compared to $88.27 per barrel in the previous period. The average price of gasoline (petrol) edged down to $75.20 per barrel.

The Ministry of Finance will officially announce petroleum prices today, after consultation with the Oil and Gas Regulatory Authority (OGRA) and approval by Prime Minister Shehbaz Sharif.

Expected petrol price in Pakistan

Fuel typeCurrent priceExpected priceDifference
PetrolRs263.45
Rs264.88 per litre+ Rs1.43
High speed diesel (HSD)Rs279.65
Rs265.96 per litre- Rs13.69