Petrol price jacked up by 56 paise, diesel by Rs2.96 per litre 

ISLAMABAD: The government on Tuesday night increased the prices of petrol and diesel for the next 15 days. 

According to a notification issued by Oil and Gas Regulatory Authority (OGRA), the price of petrol has been jacked up by 56 paise, taking the new price to Rs252.66 per litre.

Meanwhile, the price of diesel was increased by Rs2.96 per litre, setting the new price at Rs258.34 per litre. The revised rates will take effect from 12 midnight. 

Meanwhile, crude oil production in Pakistan declined on a weekly basis, while gas production showed an upward trend.

According to data issued by the Pakistan Petroleum Information Service (PPIS) and industry statistics, the average daily crude oil production for the week ending December 16 stood at 60,113 barrels, marking a 1 per cent decrease compared to the previous week’s production of 60,635 barrels. 

The average daily gas production for the week ending December 16 was recorded at 2,697 MMcfd, reflecting a 3 per cent increase from the previous week’s output of 2,631 MMcfd. 

Meanwhile, the OGRA on Tuesday announced to decrease the liquefied petroleum gas (LPG) prices on New Year’s eve. 

According to a notification issued by the regulator, the price of 1 kilogramme of LPG has been reduced by Rs4, settling at Rs250.

Similarly, the price of domestic cylinder weighing 11.8kg has been decreased by Rs47.

Now, consumers across the country will have to pay Rs2,953 for a domestic cylinder with 11.8kg LPG in the first from January 2025.

The notified price will come into effect on January 1, 2025.

The per kg price in December was Rs254, while the 11.8kg domestic cylinder was Rs3,000.

According to the OGRA, the LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate.

As compared to the previous month (December 2024) Saudi Aramco-CP has decreased prices by 2 per cent.

Likewise, the average dollar exchange rate has slightly increased by 0.12 per cent resulting in a decrease in LPG consumer price by Rs47.43/11.8 kg cylinder (1.58 per cent).  

Meanwhile, gold prices in Pakistan remained unchanged on final trading day of 2024, with 24-karat gold maintaining its value at Rs272,600 per tola, according to the latest figures released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

Similarly, the price for 10 grammes of 24-karat gold stood firm at Rs233,711, showing no change from the previous session.