- No demand or supply issues noted in global POL markets.
- The premium on oil currently stands at $8.69 per barrel.
- Mixed prices due to ME conflict and US leadership transition.
ISLAMABAD: Petrol price is expected to fall by Rs 2 per litre, while high speed diesel (HSD) is expected to increase by Rs 3.62 per litre, from January 1, 2025, for the next fortnight, News reported.
Industry sources indicate that there are no supply or demand issues in the international market.
However, uncertainty over geopolitical tensions, particularly the situation in the Middle East and speculation about how the new US leadership will address global challenges, is currently influencing oil product prices.
The premium on oil is $8.69 per barrel. The reduction in the price of petrol by over Rs2 per liter was offset by an increase in the price of diesel by Rs3.62 per litre.
The price of petrol for the next fortnight could be Rs250.20 per litre. However, after an estimated increase of Rs3.62 per litre, the price of diesel could stand at Rs259 per litre.
Earlier this month, the federal government announced that gasoline prices would remain unchanged for the next fortnight starting December 16.
The price of petrol remained unchanged at Rs252.10 per liter for the next fortnight. However, the government reduced the price of high-speed diesel by Rs 3.05 to Rs 255.38 per liter.
Similarly, prices of kerosene and light diesel were reduced by Rs 3.32 and Rs 2.78 to Rs 161.66 per liter and Rs 148.95 per liter, respectively.