MS Petrol and High-Speed Diesel (HSD) prices in Pakistan are expected to rise this week, primarily due to an uptick in international oil prices and additional import premiums. Reports suggest the federal government may announce an increase of PKR 4 per liter for petrol and PKR 5 per liter for diesel, effective November 15, 2024.
This anticipated hike follows a recent trend in global markets, with the price of petrol rising by $1.7 per barrel and diesel by $4.4 per barrel. Notably, the Pakistani rupee has held steady around the 277 mark during this period, which has somewhat buffered the impact but not enough to prevent the increase.
The anticipated increase in fuel prices is expected to bring High-Speed Diesel (HSD) rates to approximately PKR 260–261 per liter, while Motor Spirit (MS or petrol) prices are likely to rise to around PKR 252–253 per liter. This follows the previous adjustment earlier in the month, where the government raised petrol prices by PKR 1.35 per liter, setting it at PKR 248.38, and diesel prices by PKR 3.85, pushing it to PKR 255.14.