The updated petroleum prices in Pakistan as of November 14, 2024, are as follows: Petrol at PKR 248.38 per liter, High-Speed Diesel (HSD) at PKR 255.14 per liter, Kerosene Oil at PKR 161.54 per liter, and Light Diesel Oil (LDO) at PKR 147.51 per liter.
These rates will remain effective until midnight on November 15, when revised prices are expected for the second half of the month.
Reports suggest that Pakistan is bracing for another rise in petroleum prices effective from November 16, marking the second increase this month due to rising global petroleum premiums. These international pressures have significantly raised import costs, adding stress to Pakistan’s economic resources. According to sources, the government is weighing price hikes across key petroleum categories, which would impact both public and industrial fuel costs.
Proposed Increases and Impacts
• Petrol: A projected increase of PKR 2.58 per liter would bring the price of petrol up from PKR 248.38 to PKR 250.96 per liter. Although this rise may appear modest, it is expected to influence transportation expenses and add to the financial strain on household budgets and logistics operations nationwide.
• High-Speed Diesel (HSD): HSD, which fuels much of Pakistan’s agriculture and transport sectors, is set to see a larger hike of PKR 5.91 per liter, moving the price from PKR 255.14 to PKR 261.05 per liter. This increase will likely lead to higher costs in the agricultural and transport industries, impacting food distribution, production expenses, and overall inflation.
• Kerosene Oil: Kerosene, commonly used for cooking and heating in rural households, is expected to see an increase of PKR 5.54, pushing its price from PKR 161.54 to PKR 167.08 per liter. This change is likely to hit low-income families hardest, especially those dependent on kerosene for essential needs, underscoring a critical need for more affordable energy options.
• Light Diesel Oil (LDO): LDO, primarily utilized in small machinery and various industries, may experience a PKR 5.90 increase per liter, raising the price from PKR 147.51 to PKR 153.41. This adjustment could lead to increased manufacturing and production costs, potentially influencing the prices of numerous consumer goods and services.
The proposed increases come amid a global surge in petroleum demand, which continues to push prices higher. This trend has strained Pakistan’s domestic fuel market, leading to price adjustments aimed at managing import expenses and maintaining economic stability.
If confirmed, these revised prices will take effect on November 16, placing additional pressure on the economy. Industry experts warn that the price hikes could further inflate food and transportation costs, intensifying inflationary challenges for households and industries alike.
