Petrol and Diesel Prices Likely to See 2nd Consecutive Increase

MS petrol and High-Speed Diesel (HSD) prices are expected to rise this week due to rising international oil prices and import premiums. The federal government is expected to increase the price of petrol and diesel by Rs. 4 per liter and Rs. 5 per liter, respectively, on November 15, 2024. The higher forecast is based on international oil prices which saw MS rise by $1.7 per barrel and diesel by $4.4 per barrel. Notably, the Pakistani rupee remained stable at the 277 level during the period in review. Considering the above, it is expected that the price of HSD is poised to increase to Rs. 260-261 per liter in Pakistan. Meanwhile, MS rates are expected to increase to Rs. 252-253 per liter. In the previous fortnight, the government raised the petrol price by Rs. 1.35 per liter to Rs. 248.38. Meanwhile, the diesel price was increased by Rs. 3.85 per liter to Rs. 255.14.