Karachi, November 27, 2024 – The government has announced the petroleum prices in Pakistan for the remainder of November 2024. These rates, set by the Oil and Gas Regulatory Authority (OGRA), will stay in effect until the end of the month.
Revised Prices:
• Petrol: Rs 248.38 per liter
• High-Speed Diesel (HSD): Rs 255.14 per liter
• Kerosene Oil: Rs 161.54 per liter
• Light Diesel Oil (LDO): Rs 147.51 per liter
The government reviews petroleum prices every two weeks, aligning them with international market trends. In the latest adjustment, the prices of petrol and HSD remained unchanged from the levels set during October 15–31. However, slight reductions were made for kerosene oil and light diesel oil.
Kerosene oil saw a price decrease of Rs 1.48 per liter, dropping from Rs 163.02 to Rs 161.54, while LDO experienced a cut of Rs 2.61 per liter, bringing its price down to Rs 147.51 from Rs 150.12. This adjustment comes after a previous fortnightly increase, where petrol rose by Rs 1.35 per liter and HSD by Rs 3.85.
Impact of Petroleum Prices
Petroleum products play a vital role in daily life and economic activity. Petrol, predominantly used in private vehicles, rickshaws, and motorcycles, is essential for middle and lower-income households. Fluctuations in its price have a direct impact on their commuting costs and disposable income.
High-Speed Diesel fuels the country’s transportation and agricultural sectors, powering trucks, buses, and machinery like tractors and tube wells. Any change in HSD prices influences the cost of transporting goods, which often trickles down to higher food and commodity prices, contributing to inflation.
The government’s decision to maintain petrol and HSD prices is intended to stabilize markets and offer temporary relief to consumers. However, rising energy costs and their cascading effects on household budgets and inflation remain key concerns for citizens amidst ongoing economic challenges.
