ISLAMABAD: Petrol price is expected to drop by Rs 2 per liter while High Speed Diesel (HSD) is likely to increase by Rs 3.62 per liter starting January 1, 2025 for the next fortnight, The News reported.
Industry sources say there are no supply or demand issues in the international market.
However, oil product prices are currently affected by uncertainty caused by geopolitical tensions, especially the situation in the Middle East and speculation about how the incoming US leadership will address global challenges.
The premium for oil is $8.69 per barrel. The reduction in petrol price by more than Rs 2 per liter was resolved by increasing the price of diesel by Rs 3.62 per litre.
Petrol price may settle at Rs 250.20 per liter in the next fortnight. However, after an estimated hike of Rs 3.62 per litre, diesel price may settle at Rs 259 per litre.
Earlier in the month, the federal government announced that petrol prices would remain unchanged for the next fortnight starting on 16 December.
Petrol price remained unchanged at Rs 252.10 per liter for the next fortnight. However, the government has reduced the price of high-speed diesel by Rs 3.05 to Rs 255.38 per litre.
Similarly, kerosene prices fell by Rs 3.32 and Rs 2.78 to Rs 161.66 per liter and Rs 148.95 per litre, respectively.
