Big increase expected in petrol, diesel prices from December?

ISLAMABAD: The prices of petroleum products in Pakistan, including high-speed diesel (HSD) and petrol, are set to be revised for the first two weeks of December 2024.

The announcement may not be welcomed by the public, as several reports suggest an increase in the prices of POL products.

Initial reports indicated that the price of petrol could rise by Rs10-15 per litre from the current rate of Rs248.38 per litre, raising concerns among the already burdened masses.

However, such a significant increase may not materialise due to the decline in global oil prices.

Dunya News also hinted at a possible hike in petrol prices on Thursday, though it forecasted a smaller increase of up to Rs4 per litre for the first half of December.

This smaller price hike seems more plausible, but it is important to note that these are still speculations, and the final decision on petrol prices will be announced on Saturday, November 30.

Currently, petrol pumps in cities such as Islamabad, Lahore, Gujranwala, and Rawalpindi are selling petrol at Rs249.30 per litre, reflecting a slight increase of Rs0.92. Hi-octane fuel is being sold at Rs261.90 per litre as of today.

The Rs12.60 per litre difference between regular and hi-octane petrol is prompting more people, particularly those who can afford it, to opt for hi-octane fuel instead of regular petrol.

Individuals familiar with fuel grades prefer hi-octane petrol over regular petrol, as it is believed to be better for engines and of higher quality.

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