The federal government is expected to revise the prices of petrol (MS) and High-Speed Diesel (HSD) on Sunday, December 15, 2024. According to sources, petrol prices are likely to increase by Rs. 0.81 per liter, while diesel prices may see a rise of Rs. 3.9 per liter.

If implemented, the new prices would bring petrol rates to Rs. 252-253 per liter and diesel rates to Rs. 254-255 per liter. The adjustment comes despite the Pakistani rupee remaining stable at the 277-278 level during the review period.

In the previous fortnight, the government had already increased the prices of both petrol and diesel. However, there is a possibility that the petrol price hike could be reversed if the government considers the decline in international spot premiums on petrol, which have dropped from $9.8 per barrel last month to $8.84 in the current fortnight.

Additionally, the federal government has decided to temporarily increase the inland freight equalization margin (IFEM) by Rs. 2.5 per liter on petrol, diesel, kerosene, and light diesel oil. This adjustment is expected to impact transportation costs and could influence the final prices of these fuels.

The final decision on the price changes will be announced by the government on Sunday.