From February 1, 2024, onwards, Pakistan's temporary government expects gasoline and diesel prices to rise during the first half of the month. The Middle East's increased tensions—more specifically, Israel's bómbà rd-mènt of Gà -zà and its attacks on Yemen's Houthis—have caused the international market to react, driving up the cost of motor gasoline (petrol) and diesel.
Anticipated increases amount to roughly Rs2.06 and Rs7.85 per litre respectively for high-speed diesel (HSD) and petrol. In reaction to worldwide events, Pakistan's ex-refinery prices for HSD and petrol have skyrocketed. The price of HSD has increased from Rs201.79 to Rs282.77 per litre, while the price of petrol has risen from Rs187.74 to Rs269.94 per litre. After deducting the impact of the international price surge, this translates to a local increase of Rs10.60 per litre for petrol and Rs6.56 per litre for HSD.
It is noteworthy that kerosene prices may decrease. The government currently levies various charges on petrol and diesel, including a petroleum development levy (PDL) of Rs60 per litre. Consumers also bear additional charges like IFEM, OMCs margin, and dealers’ margin. Taking exchange rate adjustments into account, the expected increase in petrol prices is Rs7.85 per litre, and for HSD, it is Rs2.06 per litre.
Over the previous two weeks, the government had lowered the price of gasoline by Rs8 per litre, to Rs259.3. The price of diesel, on the other hand, stayed at Rs276.21 per litre. Notably, the most recent revision also included lower pricing for kerosene and light diesel oil.
Over the previous two weeks, the government had lowered the price of gasoline by Rs8 per litre, to Rs259.3. The price of diesel, on the other hand, stayed at Rs276.21 per litre. Notably, the most recent revision also included lower pricing for kerosene and light diesel oil.