Hike in petrol, cut in diesel prices expected

ISLAMABAD: A slim hike in petrol price by Rs0.81 per litre and a reasonable reduction in diesel price by Rs3.94 per litre has been worked out from December 16, 2024 for the next fortnight.

During the first 12 days of the current fortnight, the authorities have worked out a nominal increase in petrol by Rs0.81 per litre and a sizeable reduction in high speed diesel (HSD) price by Rs3.94 per litre because of the volatile behaviour of the international market on account of the regime change in Syria.

In case the situation in Syria settles down soon, the POL price may come down more. Currently, the crude oil and POL products in the international market are available in abundance, but demand is lower.

As per the 12 days working, the price of petrol may settle from December 16 at Rs252.92 per litre after an increase in its price by Re0.81 per litre. Diesel may come down by Rs3.94 per litre to Rs254.53 from the existing price of Rs258.43 per litre.