The federal government has announced significant adjustments to petroleum product prices in Pakistan, effective December 1, 2024. These changes, driven by fluctuations in global oil prices, impact Petrol Cost, high-speed diesel (HSD), kerosene oil, and light diesel oil (LDO).
Petrol Cost Increases by Rs. 3.72 Per Liter:
The Petrol Cost has risen from Rs. 248.38 to Rs. 252.10 per liter, reflecting an increase of Rs. 3.72. Petrol cost is a major concern as petrol is primarily used in motorbikes and cars. Its demand has surged due to reduced gas supplies to CNG stations in Punjab, where imported gas has become uncompetitive.
High-Speed Diesel (HSD) Price Also Rises:
High-speed diesel, extensively used in the transport and agriculture sectors, now costs Rs. 258.43 per liter, up by Rs. 3.29 from the previous price of Rs. 255.14. This increase in Petrol Cost and diesel prices is expected to have a direct inflationary impact on consumers due to its widespread usage.
Relief in Kerosene Oil and LDO Prices:
- Kerosene Oil: The price has been reduced by Rs. 0.62, bringing it down to Rs. 164.98 per liter. Kerosene is essential for cooking in remote and northern areas where LPG is unavailable.
- Light Diesel Oil (LDO): LDO sees a minor reduction of Rs. 0.48, making the new price Rs. 151.73 per liter. LDO is widely utilized in industrial operations.
Inland Freight Equalization Margin (IFEM) & Petroleum Levy:
The Petrol Cost and other oil prices include the Inland Freight Equalization Margin (IFEM):
- Petrol: Rs. 7.50 per liter
- HSD: Rs. 4.15 per liter
The government continues to impose a Petroleum levy of Rs. 60 per liter on both petrol and HSD to support national expenditures.
Liquefied Petroleum Gas (LPG) Prices Adjusted:
For December 2024, the LPG price has experienced a slight increase due to variations in the exchange rate. Key highlights:
- An 11.8 kg LPG cylinder now costs Rs. 3,000.79, up from Rs. 2,999.47 in November.
- The price per kilogram has risen by Rs. 0.11.
This marginal adjustment links directly to the Saudi Aramco Contract Price (CP) and the average dollar exchange rate.
Conclusion:
These adjustments in Petrol Cost, including petrol, HSD, kerosene oil, and LPG, reflect global oil market trends and currency fluctuations. While some prices have increased, reductions in kerosene and LDO bring slight relief to consumers in specific regions.
Stay informed about the latest petrol cost updates as these changes continue to shape the economic landscape and daily expenses.
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