Good News! Petrol Prices Likely to Drop from New Year
The start of the new year might bring mixed news for Pakistanis as changes in fuel prices are expected to be announced soon. The federal government is set to revise fuel prices on December 31, 2024, with new rates effective from January 1, 2025.
Insiders suggest that petrol prices may drop slightly, offering some relief to citizens struggling with inflation. Reports indicate that petrol could see a reduction of Rs2 per litre, potentially bringing the price down to Rs250.10 from its current Rs252.10 per litre.
However, the news isn’t entirely positive. Diesel prices are expected to rise by Rs3.50 to Rs4 per litre, which could push the cost of high-speed diesel to around Rs259-260. Similarly, light-speed diesel may also see an increase of approximately Rs3 per litre, potentially reaching Rs151.97.
As of now, kerosene oil and other fuels have not been highlighted for significant changes. The adjustments in fuel prices are part of the government’s routine fortnightly revisions, aimed at aligning domestic rates with global market trends.
The revised prices will remain in effect until mid-January 2025. While the anticipated reduction in petrol prices provides some relief, the expected increase in diesel rates could impact transportation and goods delivery costs, potentially offsetting the benefits for many.
This development reflects the delicate balance the government must maintain between providing relief to citizens and managing economic challenges in a fluctuating global fuel market.
