The start of the new year may bring a mix of relief and concern for Pakistanis as the federal government prepares to revise fuel prices on December 31, 2024, with the updated rates taking effect on January 1, 2025.
According to insiders, petrol prices might decrease slightly, providing some respite amid rising inflation. Reports suggest a reduction of Rs2 per litre, potentially lowering the price from Rs252.10 to Rs250.10 per litre.
On the other hand, the outlook for diesel is less favorable. High-speed diesel prices are projected to increase by Rs3.50 to Rs4 per litre, potentially reaching Rs259-260. Similarly, light-speed diesel may see a hike of around Rs3 per litre, possibly bringing its price to Rs151.97.
Currently, kerosene oil and other fuels have not been singled out for major changes. The periodic adjustments to fuel prices are part of the government’s biweekly routine, designed to align domestic prices with global market fluctuations.
The updated prices will remain effective until mid-January 2025. While the predicted drop in petrol prices offers some relief, the projected rise in diesel rates might raise transportation and delivery costs, potentially negating the benefits for many.
This scenario underscores the government’s challenge of balancing citizen relief with economic management amid the uncertainties of the global fuel market.
