Govt jacks up kerosene oil price by Rs6.30 per litre

ISLAMABAD:  After an increase in petrol and diesel prices by Rs3.47 per litre and Rs2.63 per litre respectively, the government on Thursday hiked kerosene oil price by Rs6.30 per litre, effective from January 16.

With the increase, the kerosene oil will now be available at Rs169.25 per litre from earlier price of Rs162.95 per litre.

On Wednesday, the petrol price was raised by Rs3.47 per litre and the high-speed diesel (HSD) by Rs2.63 per litre.

Read this too: Petrol price hiked by Rs3.47 per litre, diesel up by Rs 2.63 

Following the increase, petrol is now available at Rs256.13 per litre and the HSD at Rs260.95 per litre.

Earlier, several reports in the media suggested that due to higher global prices, the government may hike the petrol price per litre by up to Rs6.

On the New Year’s eve, the government raised petrol prices by Rs0.56 per litre, setting the new price at Rs252.66 per litre. Diesel price was increased by Rs2.96 per litre, which was Rs258.34 per litre for the first half of January.

In December, Pakistan’s oil sales dropped by 19 per cent compared to the previous month. However, in the whole year, petroleum products saw a three per cent increase, with total sales reaching 1.28 million tonnes.

Over the first half of the financial year 2024-25, sales of petroleum products saw a four per cent rise, totalling 8 million tonnes, compared to 7.68 million tonnes in the same period last year.

Arif Habib Ltd (AHL) noted that overall petroleum product sales grew by 2 per cent throughout 2024, hitting 15.62 million tonnes.

Petrol sales in December, however, didn’t follow the same trend, falling by 15 per cent from November and slipping 1 per cent compared to the last financial year, reaching 0.57 million tonnes.

In the first half of FY2024-25, petrol sales grew by five per cent, reaching 3.75 million tonnes.

HSD sales faced an even sharper drop in December, falling 27 per cent from the previous month. But when comparing year-on-year, sales rose by 12 per cent, amounting to 0.57 million tonnes.

On the other hand, furnace oil sales saw a bit of a rebound, rising 12 per cent month-on-month in December, although they were still 48 per cent lower than in the same month last year, with total sales at 0.04 million tonnes.