Market sources said petrol prices may slightly decrease, but overall petroleum rates are expected to rise as the government prepares for the next price review.
According to petroleum industry insiders, the price of high-speed diesel could go up by Rs9.60 per litre – a significant increase driven by global market trends. If approved, the new price of high-speed diesel may reach Rs288.40 per litre.
Meanwhile, petrol prices might fall slightly by Rs1.96 per litre, bringing the new rate down to Rs263.49 per litre from November 16, if the proposal gets final approval.
Officials said kerosene oil, widely used in rural and low-income households, could see an increase of Rs8.82 per litre, while light diesel oil may become costlier by Rs7.15 per litre. Both hikes reflect rising global prices and supply adjustments.
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Nationwide petroleum prices will be officially revised on Saturday. The Oil and Gas Regulatory Authority (OGRA) will submit its summary to the federal government the same day, recommending adjustments based on international market trends and currency fluctuations.
After receiving OGRA’s report, the Ministry of Finance will seek the Prime Minister’s approval before issuing the final notification. Once approved, the new fuel prices will take effect immediately.
Earlier, on November 1, the government had slightly raised petrol and diesel prices for the first half of the month. Petrol increased by Rs1.35 per litre to Rs248.38, and high-speed diesel was set at Rs255.14 per litre. At that time, the government had reduced prices of kerosene oil and light diesel to Rs161.54 per litre, reflecting a minor relief.
The expected hike shows how global oil prices continue to influence Pakistan’s domestic market. Any increase in diesel and kerosene directly affects transport and household costs. While petrol may offer slight relief, rising diesel rates will likely keep inflationary pressure high for ordinary citizens.
