The federal government of Pakistan has announced an increase in fuel prices for the first fortnight of January 2025. Petrol prices have gone up by 56 paisa per litre, setting the new rate at Rs252.66, while the price of high-speed diesel (HSD) has been raised by Rs2.96 per litre, bringing it to Rs258.34.
The price adjustments are part of routine changes influenced by fluctuations in international markets and domestic economic factors. This follows a similar adjustment in mid-December 2024, when petrol prices remained stable at Rs252.10 per litre, while HSD prices saw a slight decrease.
Additionally, the prices for kerosene oil and light diesel oil also changed, with kerosene seeing a reduction of Rs3.32 per litre and light diesel oil down by Rs2.78. Despite the changes, the government’s inability to reduce the petroleum levy has contributed to significant price hikes in recent months. Since October 16, the price of high-speed diesel has increased by Rs12.14 per litre, while petrol has risen by Rs5.07.
Sources indicate that the government’s decision not to reduce the levy, due to restrictions from the IMF program, contributed to the recent increases.
