ISLAMABAD – The federal government is likely to jack up the petroleum prices from December 1, 2024 in line with rising global rates.
Reports said the petrol price could be increased by Rs3.15 per litre to Rs251.53 while the price of high speed diesel could be hiked by Rs3.20 to Rs258.34 per litre.
Similarly, the government is expected to increase the price of kerosene oil by Rs4 per litre in the upcoming review.
Prime Minister Shehbaz Sharif will take the final decision regarding revision in petroleum prices on November 30. However, the new petrol rates will come into effect from December 1 till December 15.
In previous review, the federal government kept the petrol prices unchanged for second half of November 2024.
In a statement issued by the Ministry of Finance, it was mentioned that the Oil and Gas Regulatory Authority (OGRA) had worked out the prices of petroleum products for the next 15 days based on the price trends in the global market over the past two weeks.
The statement further noted that it had been decided that there will be no change in the prices of petrol and diesel for the next 15 days.
According to the Ministry of Finance, the price of High-Speed Diesel will remain at Rs. 255.14 per litre, and the price of petrol will remain at Rs. 248.38 per litre till November 30.
