The federal government has revised fuel prices for the next fortnight, announcing a notable increase in the rates of petrol and diesel. According to the Ministry of Finance, the updated prices will come into effect from December 1, 2024.
New Fuel Prices Effective December 1, 2024
• Petrol: Increased by Rs. 3.72 per liter, taking the price to Rs. 252.10 per liter from the previous Rs. 248.38 per liter.
• Diesel: Increased by Rs. 3.29 per liter, setting the new rate at Rs. 258.43 per liter, up from Rs. 255.14 per liter.
The Ministry of Finance attributed the price hike to global market fluctuations and adjustments in import costs.
Impact on Consumers
The increase in fuel prices is expected to affect transportation costs, leading to a potential rise in the cost of goods and services. Consumers are advised to plan their budgets accordingly as these new rates are implemented.
Government’s Fuel Price Adjustment Policy
Fuel prices in Pakistan are revised every two weeks based on the international oil market trends and exchange rate fluctuations. This fortnight’s increase reflects ongoing challenges in managing the country’s fuel supply amidst volatile global oil prices.
Stay tuned for further updates on fuel prices and their impact on the economy.
