Karachi, November 23, 2024 – The updated petroleum prices in Pakistan for Saturday, November 23, 2024, will remain in effect until the end of this month.
As per official announcements:
• 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
Pakistan reviews petroleum prices every fortnight based on global market trends, as assessed by the Oil and Gas Regulatory Authority (OGRA). In the latest review, petrol and HSD prices were maintained at levels set during October 15-31, while prices of kerosene oil and light diesel oil saw slight reductions.
Despite a previous increase of Rs 1.35 per liter for petrol and Rs 3.85 for HSD in the last fortnight, prices for these fuels have been left unchanged. Conversely, kerosene oil experienced a reduction of Rs 1.48 per liter, bringing the new price to Rs 161.54 per liter from the earlier Rs 163.02. Similarly, LDO prices were cut by Rs 2.61 per liter, now priced at Rs 147.51 compared to the previous Rs 150.12.
Impact of Petroleum Prices
Petrol is a critical fuel for private transportation, particularly small vehicles, rickshaws, and motorcycles. Price fluctuations significantly impact middle and lower-income groups, who rely heavily on these modes of transport for daily commuting.
High-Speed Diesel, on the other hand, is an essential fuel for heavy-duty vehicles such as buses, trucks, and agricultural machinery, including tractors and tube wells. The rising cost of HSD affects the transportation of goods and agricultural products, often resulting in higher prices for vegetables, grains, and other essentials, fueling inflation.
The government’s decision to maintain fuel prices aims to provide temporary relief and market stability. However, the broader economic impact of these prices on transportation costs, food prices, and household budgets remains a concern for citizens, especially amidst persistent economic challenges.
