Petrol Price Set to Drop by Rs2, Diesel to Rise by Rs3.62 from January 1
Global Oil Market Dynamics Impacting Domestic Fuel Prices
ISLAMABAD: Petrol prices are expected to decrease by Rs2 per litre, while the price of high-speed diesel (HSD) is likely to rise by Rs3.62 per litre, effective from January 1, 2025, for the next fortnight, according to industry sources.
The anticipated price changes come amid a stable international market, with no significant supply or demand issues reported. However, ongoing geopolitical tensions, particularly in the Middle East, and uncertainties regarding the incoming US leadership’s approach to global challenges are influencing petroleum prices.
Currently, the premium on petroleum is at $8.69 per barrel, with the reduction in petrol prices balanced by an increase in diesel prices. The price of petrol for the next fortnight is expected to settle at Rs250.20 per litre, while diesel could rise to Rs259 per litre.
Earlier this month, the federal government had announced that petrol prices would remain unchanged for the fortnight starting December 16. During that period, petrol stayed at Rs252.10 per litre, while the price of high-speed diesel was reduced by Rs3.05 to Rs255.38 per litre. Additionally, prices for kerosene and light diesel were reduced by Rs3.32 and Rs2.78, settling at Rs161.66 per litre and Rs148.95 per litre, respectively.
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These adjustments reflect the evolving dynamics of the global oil market, with domestic consumers closely watching how these price fluctuations will impact their daily expenses in the coming weeks.
