Pakistan’s interim government gears up for a crucial announcement set for November 15, heralding an impending alteration in petrol prices scheduled to take effect from November 16. Despite the global downturn in petroleum rates, market indicators hint at a probable surge, estimating a rise of Rs 3 per liter over the coming fortnight.
However, a contrasting trajectory seems to be in store for high-speed diesel users, who may anticipate a potential relief with a projected decrease of up to Rs 8.50 starting November 16.
Delving deeper into these anticipated changes, kerosene prices could potentially witness a reduction of Rs 5.5 per liter, while light diesel oil might observe a substantial dip of Rs 8.5 per liter within the same timeframe. Insider reports forecasting the initial ex-refinery price of petrol, which stood at Rs 199.16 on November 1, suggest a probable escalation to Rs 202.34 by November 15.
Conversely, the ex-refinery price of high-speed diesel, initially recorded at Rs 225.72 on November 1, is expected to dwindle to Rs 217.52 by November 15. This noticeable divergence in pricing between diesel and petrol foresees diesel becoming a more cost-effective option while potentially amplifying the expenses related to petrol. The imminent unveiling of the Oil and Gas Regulatory Authority’s (Ogra) workings on petroleum product pricing on November 15 might steer the government toward maintaining prevailing price levels.
Earlier speculations had alluded to the likelihood of a decrease in petrol and diesel prices in Pakistan, ranging from Rs 8 to Rs 10 per liter, scheduled for implementation from November 15. These projections were deeply rooted in the global decline of oil prices. The caretaker government is anticipated to disclose final adjustments in petroleum product prices, with formal notification expected from the Finance Division.
Here’s a summary of the projected changes in fuel prices:
| Fuel Type | Expected Change (Rs/Liter) |
|---|---|
| Petrol | +3 |
| High-speed Diesel | -8.50 |
| Kerosene | -5.5 |
| Light Diesel Oil | -8.5 |
While earlier anticipations hinted at relief for consumers, the final verdict and its impact on the populace await the imminent disclosure by Pakistan’s caretaker government. The decision, balanced against global market trends, remains poised to sculpt the economic landscape for the nation. As we approach the decisive date, the trajectory of these fuel price alterations holds substantial significance for both consumers and the broader economic spectrum.
