The federal government is anticipated to raise fuel prices next week due to a recent surge in international oil prices. Starting October 16, 2024, petrol (MS) prices may increase by Rs. 5.5 per liter, bringing the new rate to approximately Rs. 252-253 per liter. Diesel (HSD) prices are also expected to rise by Rs. 13 per liter, reaching around Rs. 259-260 per liter.
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This adjustment follows five consecutive reductions in fuel prices, with the recent international prices for HSD, petrol, and crude oil climbing to $87.5, $79, and $81 per barrel, respectively. The Pakistani rupee has remained stable at around 277-278 against the dollar over the past two weeks, while import premiums for petrol and diesel have stayed steady at $8.7 and $5 per barrel.
In the last price cut, the government reduced petrol by Rs. 2.07 per liter to Rs. 247.03 and diesel by Rs. 3.4 per liter to Rs. 246.29.
