Upcoming oil price hikes in Pakistan are likely to place an added financial strain on the public, with significant increases expected in petrol, diesel, kerosene, and light diesel oil (LDO) prices in the second half of November 2024. Petrol may see an increase of Rs 2.58 per liter, bringing the price up to around Rs 250.96 per liter, while high-speed diesel (HSD) could go up by Rs 5.91 per liter, reaching approximately Rs 261.05. Light diesel oil might rise by Rs 5.90 per liter, taking it to Rs 153.41, and kerosene oil could increase by Rs 5.54 per liter, potentially hitting Rs 167.08.
These proposed changes are based on current tax levels, with no adjustments for exchange rate fluctuations. Recent hikes in global petrol and diesel prices are major contributors to the anticipated local increases.
As of now, the prices per liter stand at Rs 248.38 for petrol, Rs 255.14 for HSD, Rs 161.54 for kerosene, and Rs 147.51 for LDO. If these new rates are approved, the public will face a substantial cost increase across fuel types, affecting transportation and daily expenses. The anticipated adjustments may also impact various sectors that rely heavily on fuel, from logistics to agriculture, potentially leading to broader economic effects.
