Price of Diesel Likely to Decrease This Week

MS petrol and High-Speed Diesel (HSD) prices are expected to see their prices change on Sunday. The federal government is expected to increase the price of petrol by Rs. 0.81 per liter but decrease the price of diesel by Rs. 3.9 per liter, on December 15, 2024. Notably, the Pakistani rupee remained stable at the 277-278 level during the period in review. Considering the above, it is expected that the price of HSD is poised to decrease to Rs. 254-255 per liter in Pakistan. Meanwhile, MS rates are expected to increase to Rs. 252-253 per liter. In the previous fortnight, the government increased both petrol and HSD prices. The price hike in petrol rates could be reversed if the government gives weightage to international spot premiums on petrol which have decreased from $9.8 last month to $8.84 in the current fortnight. It bears mentioning that the federal government has decided to temporarily raise the inland freight equalization margin (IFEM) by Rs. 2.5 per liter on petrol, diesel, kerosene, and light diesel oil.