Diesel price likely to rise by Rs35, petrol may get relief

The federal government is expected to unveil revised petroleum prices later today, with indications pointing to a substantial increase in the price of high-speed diesel (HSD),

ISLAMABAD: The federal government is expected to unveil revised petroleum prices later today, with indications pointing to a substantial increase in the price of high-speed diesel (HSD), while petrol consumers may receive modest relief.

According to market estimates, the price of petrol could be reduced by around Rs3 to Rs4 per litre. However, high-speed diesel is expected to witness a sharp rise of approximately Rs34 to Rs35 per litre, reflecting recent trends in global energy markets.

The anticipated adjustment comes as authorities continue to monitor international crude oil prices, which have remained volatile due to geopolitical developments and supply concerns. Changes in global oil benchmarks have directly affected Pakistan’s import costs, influencing domestic fuel pricing calculations.

Industry observers noted that while a decline in petrol prices may benefit private vehicle owners and motorcycle users, a significant increase in diesel rates could have wider economic implications. Diesel is extensively used in the transportation, agriculture and industrial sectors, meaning higher fuel costs may add pressure on freight charges and the prices of essential goods.

The government recently revised its petroleum pricing mechanism in response to heightened uncertainty in global energy markets following tensions involving Iran. Under the updated framework, fuel prices are now reviewed on a weekly basis instead of the previous fortnightly schedule, allowing authorities to respond more quickly to fluctuations in international oil prices.

Last week, consumers received notable relief when the government reduced the prices of both petrol and diesel by Rs22 per litre. Following that reduction, petrol is currently available at Rs381.78 per litre, while high-speed diesel is being sold at Rs380.78 per litre.

Market analysts say the final decision will depend on the latest calculations of import costs, exchange rate movements, and applicable taxes and levies. The official notification regarding revised petroleum prices is expected later in the day after approval from the relevant authorities.