Hike in petrol price by Rs3, diesel Rs2.87/litre worked out from Dec 1

ISLAMABAD: The petrol price has been projected to increase by Rs3 per litre and diesel by 2.87 per litre from December 1, 2024 for the next fortnight due to a slight hike in international prices in the last 12 days.

However, officials are expecting a decline in POL prices in the global markets from Thursday or Friday on account of the Israel-Hezbollah ceasefire, hence no change in the POL prices.

Brent crude settled 2 cents higher at $72.83 a barrel while US West Texas Intermediate crude slipped 5 cents to $68.72.

As per the working based on 12 days of the current fortnight, the surge in the price of petrol by Rs3 per litre has been worked out and it may settle at a new price of Rs251.38 per litre from the existing price of Rs248.38 per litre.

Likewise, the diesel price has also been estimated to increase by Rs2.87 per litre, from Rs255.14 to Rs258.01 per litre.

Nevertheless, the kerosene oil price is projected to decline by Re0.11 per litre to Rs165.49 from the existing Rs165.60 per litre.

The price of LDO (light diesel oil) is likely to tumble by Re0.04 per litre to Rs152.17 from Rs152.21 per litre.