Petrol Price in Pakistan from January 1; Check latest update

Karachi – There is little relief in sight for inflation-hit Pakistanis, as sources familiar with the matter indicate that there will be no reduction in petrol and diesel prices in the upcoming fortnightly review.

As the country transitions into 2024, the interim government has decided to maintain the current petrol prices, citing a lack of room for a decrease.

According to insider information, the expected adjustments for the first half of January 2024 include a Rs1 reduction per litre for petrol and kerosene, while diesel and light diesel prices are set to increase by Rs1.50-Rs2 per litre.

This decision is influenced by a modest uptick in Brent prices on the international market. Although global oil prices experienced a decline in early December, they have since remained below the USD 80 mark.

The federal government is scheduled to announce the revised petroleum prices on December 31, 2023. Currently, a Rs60 levy is imposed on each litre of petrol. In the previous review, the government had reduced petrol prices by Rs14 per litre and diesel by Rs13.5.

As of late December, petrol is being retailed at Rs267.34 per litre, while diesel is priced at Rs276.21 per litre.