After five consecutive fortnightly reductions, petroleum prices in Pakistan are poised to increase due to rising international prices linked to the ongoing Middle East crisis. According to informed official sources, the prices of key petroleum products—petrol and high-speed diesel (HSD)—are expected to rise by approximately Rs. 5.50 and Rs. 13 per liter, respectively, starting October 16 for the upcoming fortnight ending October 31.
Officials reported that the price of petrol has increased by an average of $2.8 per barrel, while HSD has surged by about $7 per barrel over the past two weeks. Depending on the final exchange rate calculations and current tax rates, the prices of both petrol and HSD are projected to increase within the range of Rs. 5.50 to Rs. 13 per liter.
The average international price of petrol has climbed to nearly $79 per barrel from around $76 per barrel, while HSD has risen to approximately $87.5 per barrel from $80.5 in the last fortnight. During this period, the import premium on petrol and HSD remained relatively stable at $8.7 and $5 per barrel, respectively, while the exchange rate stayed range-bound.
Currently, the ex-depot price of petrol stands at Rs. 247.03 per liter, and HSD is priced at Rs. 246.69 per liter. However, in the retail market, both petrol and HSD are sold at slightly higher prices, exceeding Rs. 248 per liter. Petrol is predominantly used in private transport, small vehicles, rickshaws, and two-wheelers, directly impacting the budgets of the middle and lower-middle classes.
