The Pakistani government is poised to announce new petrol and diesel prices for November 2024, with reports suggesting a slight decrease during today’s biweekly review.
Due to falling international rates, petrol and high-speed diesel prices are expected to drop by Rs2-3 per litre. Over the past two weeks, the average global petrol price has declined by approximately $1.5 per barrel, while diesel prices have decreased by about $2.5 per barrel.
Read more: Petroleum prices anticipated to decrease starting November 1
Current prices for petroleum products are as follows:
- Petrol: Rs243.03 (expected Rs240.03)
- High-Speed Diesel (HSD): Rs251.29 (expected Rs248.99)
Currently, ex-depot prices stand at Rs243.03 for petrol and Rs251.29 for diesel. Import premiums for both fuels have remained steady, with petrol at $8.7 per barrel and HSD at $5. The exchange rate has shown minimal fluctuations.
In the last review, the petrol price remained unchanged at Rs247.03 per litre, ending a three-month streak of price cuts. As of late 2024, the government imposes approximately Rs76 per litre in taxes on both petrol and high-speed diesel, which includes a Rs60 petroleum development levy, Rs16 customs duty, and Rs17 for distribution and sales margins.
Pakistanis are closely monitoring the upcoming price changes, as the Finance Division is expected to provide an update before midnight.
