Karachi – With changes in the global market and an increase in the margin of oil marketing companies and dealers it is anticipated that the price of petrol and diesel may rise by as much as Rs12–13 per litre starting on October 16, 2024.
Petrol and diesel prices are set to be increased by the federal government in the next two-week review. Rising crude oil prices on the global market are the cause of the predicted increase.
Both the MS and Diesel import premiums held steady last month as did the value of the local currency during these two weeks.
Read Also: Expected Petrol Price Update in Pakistan from July 16
Pakistan Current Petrol Prices
| POLs | Rates |
|---|---|
| Petrol (MS) | Rs247.03 |
| High-Speed Diesel (HSD) | Rs246.29 |
October 2024 Expected Petrol Price
| POLs | Expected Rates |
|---|---|
| Petrol (MS) | Rs250-252 |
| High-Speed Diesel (HSD) | Rs258-260 |
According to sources familiar with the issue petrol prices may rise to between Rs 250 and Rs 252, while diesel prices may rise to Rs 260, marking the first increase in the previous 2.5 months.
Crude saw a modest decline ahead of the weekend due to tensions between Israel and Iran in the Middle East despite recent increases globally. At $78.74 per barrel, Brent crude fell sharply.