As the new year approaches, Pakistanis brace for a mix of good and bad news concerning fuel prices. The federal government is set to announce revised fuel rates on December 31, 2024, which will take effect from January 1, 2025.
Petrol Prices to Drop Slightly
Insiders suggest a marginal relief for petrol consumers, with reports indicating a potential reduction of Rs2 per litre. If implemented, the price of petrol will decrease from its current Rs252.10 to Rs250.10 per litre. This slight adjustment offers some respite to citizens grappling with inflationary pressures.
Diesel Prices on the Rise
Conversely, diesel users face less encouraging prospects. High-speed diesel is expected to see a price hike of Rs3.50 to Rs4 per litre, potentially raising its cost to Rs259-260 per litre. Light-speed diesel prices may also increase by around Rs3 per litre, reaching Rs151.97. Such hikes could have a ripple effect on transportation and logistics costs, potentially impacting everyday goods and services.
Kerosene and Other Fuels
As of now, no significant changes have been reported for kerosene oil or other fuels. The government’s routine fortnightly revisions aim to align domestic fuel prices with global market trends, balancing citizen relief with economic sustainability.
Broader Implications
The revised prices will remain effective until mid-January 2025. While the anticipated drop in petrol prices is a welcome development, the increase in diesel rates presents challenges, particularly for industries and transportation sectors reliant on diesel-powered vehicles.
This adjustment underscores the government’s ongoing efforts to navigate economic complexities amidst fluctuating global fuel markets. As citizens prepare for these changes, the impact of fuel price revisions will likely extend beyond the pump, affecting various aspects of daily life and the broader economy.
Stay tuned for updates on fuel pricing and its implications as we enter 2025.
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