As the Nov 2024 have ended, Govt. of Pakistan have announced new prices of petrol and diesel. Oil and Gas Regulatory Authority (OGRA) suggests new prices after calculations based on international crude oil price, procuring cost, applicable taxes etc. Then these prices are forwarded for approval to finance ministry and ultimately to the Prime Minister himself. They can also adjust the price, any adjustment on this level results in increase or decrease of taxes.
So after going through the whole process described above, the petrol and diesel prices have been increased for the first fifteen days of December 2024. The details of new and old prices as well as the difference is as follows.
| Petroleum Product | New Price | Old Price | Difference |
|---|---|---|---|
| Petrol | 252.10 | 248.38 | +3.72 |
| Diesel (HSD) | 258.43 | 255.14 | +3.29 |
The prices of petroleum products will be again evaluated and reviewed for second fortnight of Dec 2024 on 15th of Dec 2024. In Pakistan, Govt. still regulates the prices of total four petroleum products, which include, two variants of diesel, then petrol and then finally Kerosene Oil. Government of Pakistan have in past thought and planned multiple times to set these product prices free from any influence from Govt. and let them set automatically as per market supply and demand. But for some less known reasons, these plans never got through.