No major change expected in petrol prices in upcoming fortnight

March 13, 2024 (MLN): The government is anticipated to make a minor adjustment to fuel prices for the second half of March 2024.

According to the latest estimates, the price of petrol is expected to increase by Rs1.07 per litre, while the price of high-speed diesel (HSD) is projected to decrease by Rs0.82 per litre.

The ex-refinery price of petroleum, as of March 12, 2024, reflects a slight increase, with petrol prices reaching approximately Rs197.30 per litre, up from Rs196.23 per litre in the previous fortnight.

Conversely, the ex-refinery price of HSD shows a marginal decrease to around Rs206 from Rs206.82 per litre.

The Pakistani Rupee has shown stability against the USD, maintaining a weighted average rate close to PKR 279.22 per USD.

It is important to note that there are still three more sessions left for the next pricing update; thus, the final prices will depend on global market movements and the exchange rate.

The government will announce the new prices at midnight on March 15, 2024, and they will remain in effect for the second half of March.

To recall, in the last fortnight, the government raised the price of petrol by Rs4.13 to Rs279.75 per litre, while the price of HSD was maintained at Rs287.3 per litre.

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