On Sunday, December 29, 2024, the petroleum prices in Pakistan stand as follows: high-speed diesel at Rs255.38 per litre, petrol at Rs252.10 per litre, kerosene oil at Rs161.66 per litre, and light-speed diesel at Rs148.95 per litre.
These rates will remain effective for three days, as the government prepares to announce a revision for the first fortnight of January 2025. The current pricing structure reflects adjustments made during the last revision on December 15, 2024, when the Finance Division issued updated petroleum rates for the final fortnight of the year.
According to the December 15 notification, the price of petrol was kept unchanged at Rs252.10 per litre, providing consistency for consumers. However, prices for other key petroleum products were reduced, offering some financial relief. High-speed diesel (HSD), a critical fuel for heavy transport and agricultural operations, was reduced by Rs3.05 per litre, bringing its price down to Rs255.38 per litre. Kerosene oil saw a reduction of Rs3.32, settling at Rs161.66 per litre, while light diesel oil (LDO) dropped by Rs2.78 to Rs148.95 per litre.
“The Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products in view of fluctuations in the international market during the last fortnight,” stated the Finance Division’s notification. These adjustments are part of the government’s efforts to align domestic prices with global market trends.
Recent changes in international petroleum markets, including the regime shift in Syria, have influenced pricing. Despite an abundant global supply of crude oil and petroleum products, demand has remained relatively subdued. This has allowed Pakistan to adjust its rates in favour of consumers while maintaining fiscal stability.
The upcoming revision, expected in early January, will take into account global price trends and domestic economic conditions, ensuring that the adjustments remain fair and transparent for the public. Consumers are advised to stay informed about the government’s decisions regarding fuel pricing as they can significantly impact daily expenses and broader economic activities.
