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- Prices of kerosene and light diesel oil have also been decreased by Rs3.32 and Rs2.78, respectively
- Pakistan revises petroleum prices every fortnight based on variations in the international market
ISLAMABAD: The Pakistani government has reduced the price of high-speed diesel Rs3 per liter, but kept the price of petrol unchanged, the finance ministry announced late Sunday.
Pakistan revises petroleum prices every fortnight. After the latest revision, a liter of diesel will cost Rs255.38, while that of petrol will continue to sell for Rs252.10.
Petrol is mostly used in Pakistan for private transport, small vehicles, rickshaws, and two-wheelers. At the same time, any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.
“The Oil and Gas Regulatory Authority has worked out the consumer prices of petroleum products in view of the fluctuations in the international market in the last fortnight,” the finance ministry said on X.
“It has accordingly revised the petroleum products for next fortnight starting from December 16, 2024.”
The government also reduced the prices of kerosene oil and light diesel oil by Rs3.32 and Rs2.78 to Rs161.66 and Rs148.95, respectively.
On Dec. 1, Pakistan increased the price of petrol by Rs3.72 per liter due to varying prices of petroleum products in the international market.
Fuel prices in energy-starved Pakistan are instrumental in contributing to inflation. The South Asian country saw inflation hit a record high of 38 percent in May 2023.
Pakistan’s annual consumer inflation slowed to 4.9 percent in November, cooling from 7.2 percent in October.