Petrol, diesel prices slightly go up in Pakistan

ISLAMABAD: The government has set new fuel prices for the next 15 days, with petrol prices rising by Rs1.35 per liter and diesel by Rs3.85.

Effective from November 1 to November 15, the new prices place petrol at Rs248.38 and diesel at Rs255.14 per liter, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA).

Meanwhile, the price of light diesel oil has been reduced by Rs2.61 per liter and kerosene by Rs1.48 per liter.

Meanwhile, production figures reveal a mixed trend in the country’s petroleum sector. Weekly data from PPIS and industry sources show an increase in crude oil output but a decline in natural gas production.

For the week ending October 23, daily crude oil production reached 64,467 barrels, up 2 per cent from the previous week’s 63,194 barrels. In contrast, daily gas output dropped to 2,694 MMCFD, a 3 per cent decrease from the prior week’s 2,776 MMCFD.

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Breaking down the latest figures by company, Oil and Gas Development Company Limited (OGDCL) recorded a daily crude output of 29,558 barrels and 462 MMCFD in gas production. Pakistan Petroleum Limited (PPL) averaged 10,398 barrels of oil and 582 MMCFD in gas. Mari Gas produced 1,102 barrels of oil and 838 MMCFD of gas, while Pakistan Oilfields Limited (POL) reported 4,134 barrels of crude and 60 MMCFD in gas output.

The price adjustments and production updates come amid efforts to stabilize energy supplies in the face of ongoing domestic and global challenges.