- Reuters
- Yesterday
Petrol price for first half of January 2025 to be announced tonight
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- Web Desk
- Dec 31, 2024
ISLAMABAD: The government is expected to announce revised petrol and diesel prices in Pakistan tonight. The new prices of petrol will be effective from January 1, 2025, until the first half of January 2025, when the next fortnightly review is due.
According to recent reports, there are mixed predictions, with some suggesting a slight increase of under Rs2 per litre in the price of petrol, while others hint at a potential Rs1 per litre increase.
Currently, the price of petrol in Pakistan stands at Rs253 per litre, while Hi-Octane is being sold at Rs261.90 at petrol pumps in major cities such as Islamabad, Lahore, Faisalabad, Karachi, Rawalpindi, and Sialkot.
It is worth noting that the price of petrol remained unchanged in the previous fortnightly review, while the price of diesel was reduced by Rs3.05 per litre to Rs255.38 per litre.
The ex-depot price of petrol stands at Rs252.10 per litre, while diesel’s ex-depot price in Pakistan is Rs255.38 per litre.
Some reports suggest that, due to the impact of oil prices in the international market, the prices of high-speed diesel (HSD), kerosene, and light diesel oil (LDO) are estimated to increase by about Rs4 to Rs5 per litre.
Recent reports now point towards a possible Rs3.62 per litre increase in the price of high-speed diesel for the next fortnight.
Recently, the City Chief of Jamaat-e-Islami, Monem Zafar Khan, urged the government to implement a 50 per cent cut in the petroleum levy, rather than the proposed Rs2 per litre decrease in fuel prices.
Reacting to reports indicating the Rs2 price drop, Zafar criticised the measure as insufficient and poorly timed, seeking greater relief for poor and middle-class citizens struggling with record inflation.
He slammed the government for its consistent pattern of increasing fuel prices in response to rising international oil prices, stating that it repeatedly fails to pass on the benefits of falling global rates to consumers.
For those unaware, the price of petrol was left unchanged in Pakistan exactly one year ago, when the government announced on January 1, 2024, that the prices of petrol and diesel would remain unchanged.
Interestingly, on January 1, 2024, the per-litre price of petrol stood at Rs267.34 and that of HSD at Rs276.21 until mid-January 2024. The current price of petrol in Pakistan is Rs15.24 per litre lower than it was on January 1, 2024.
