The federal government of Pakistan is poised to increase the prices of MS petrol and High-Speed Diesel (HSD) this week, driven by rising international oil prices and import premiums. The anticipated price hike will see petrol increase by Rs. 4 per liter and diesel by Rs. 5 per liter, effective November 15, 2024.
This adjustment is based on recent trends in the international oil market, where the price of MS petrol rose by $1.7 per barrel and diesel by $4.4 per barrel. Despite these fluctuations, the Pakistani rupee has remained stable at the 277 level during the review period.
As a result of these changes, the price of HSD is expected to reach Rs. 260-261 per liter, while MS petrol rates are projected to rise to Rs. 252-253 per liter.
In the previous pricing adjustment, the government increased the petrol price by Rs. 1.35 per liter, bringing it to Rs. 248.38 per liter. Diesel prices were also raised by Rs. 3.85 per liter, reaching Rs. 255.14 per liter.
