A slight increase of 81 paisas per litre in petrol prices and a reduction of Rs3.94 per litre in diesel prices have been proposed for the upcoming fortnight starting December 16, 2024.
These adjustments are based on price trends observed during the first 12 days of the current fortnight, influenced by international market volatility following a regime change in Syria.
If stability returns to Syria soon, there is potential for further reductions in petroleum prices. Currently, global crude oil and petroleum products are in ample supply, but demand remains subdued.
Also Read: Pakistan increases petrol, diesel prices
From December 16, the price of petrol is expected to rise to Rs252.92 per litre after an increase of 81 paisas. Meanwhile, diesel prices are projected to decrease by Rs3.94, settling at Rs254.53 per litre compared to the current Rs258.43.
The Finance Ministry had issued a notification revising petroleum product prices for the next fortnight, starting from December 1. Petrol became costlier by Rs3.72 per litre, setting the new price at Rs252.10 per litre. High-speed diesel (HSD) saw an increase of Rs3.29 per litre, bringing its new price to Rs258.43 per litre.
Conversely, kerosene became cheaper by 62 paisas per litre, and the price of light diesel dropped by 48 paisas per litre.
