Pakistan is preparing to announce new petrol and diesel prices for the upcoming fortnight, set to be effective from December 16th until January 1st.
It is highly anticipated that the government will unveil the adjusted petrol and diesel prices on Friday, December 15. The new petrol and diesel rates are expected to take effect after 12 am on Saturday, December 16.
The current price of petrol in Lahore, Rawalpindi, Islamabad, Sialkot, Gujranwala, Karachi, and nationwide is Rs281.34 per litre, which came into effect on December 1.
It’s noteworthy that in the last fortnightly review, the government kept the petrol price unchanged.
However, a reduction of Rs7 was applied to the price of high-speed diesel (HSD), bringing it to the current rate of Rs289.71. Before December 1, the HSD was priced at Rs296.71.
Recent credible reports from Pakistan-based news outlets suggest that the government may reduce the price of petrol and diesel by up to Rs15 per litre this week.
According to these reports, the petrol price may see a decrease of Rs13, while a more substantial reduction of Rs15 per litre is expected for diesel.
If these reports prove accurate, it would bring significant relief to the inflation-affected population, with the petrol price dropping to Rs268.34 per litre and the diesel price potentially reaching Rs274.71 per litre.
However, it’s important to note that these reports are speculative at this point, and such speculations may not always materialise.
The final decision regarding any reduction or increase in petrol and diesel prices will be disclosed by the government through the Ministry of Finance or Petroleum Division shortly before Saturday, December 16, or after 11 pm on Friday, December 15.
