ISLAMABAD: Fuel prices in Pakistan are anticipated to see notable adjustments this weekend, with diesel, kerosene, and light diesel oil expected to become more expensive.
According to market insiders, petrol prices might experience a slight decrease. However, overall petroleum rates are projected to rise as the government moves forward with its latest price update.
Industry experts indicate that the cost of high-speed diesel could surge by Rs9.60 per litre, marking a significant rise influenced by recent market dynamics. If implemented, the new price of high-speed diesel could be set at Rs288.40 per litre.
On the other hand, forecasts suggest a minor reduction in petrol prices from November 16. If confirmed, the adjusted price is expected to stand at Rs263.49 per litre, based on industry predictions.
Kerosene oil, commonly used in rural and low-income households, is likely to see an increase of Rs8.82 per litre, as per officials within the petroleum sector. Light diesel oil may also register an uptick of Rs7.15 per litre, attributed to changes in global pricing trends and supply conditions.
Petroleum product prices across the country will be reviewed on Saturday, adhering to the fortnightly review schedule. On the same day, OGRA will submit its price adjustment recommendations to the federal government, considering global market variations and currency exchange rates.
Once the summary is reviewed, the Finance Ministry will release an official notification announcing the updated fuel prices after receiving the prime minister’s approval. The revised rates will take effect immediately upon notification issuance.
