Petrol price expected to rise again in Pakistan

Abdur Rahman | November 14, 2024 at 11:42 AM GMT+05:00

0:00

November 14, 2024 (MLN): Petrol prices are expected to rise again by about Rs2.5 per litre following an uptick in global oil prices, according to MG Research calculations.

Unless the government changes the petroleum levy, this would bring the petrol price to around Rs250.9 per litre, effective from midnight Friday.

That would be the second consecutive hike, though rates will remain lower than last year as a sharp decline in global oil prices and a stable exchange rate allowed the government to slash prices. On November 16, 2023, the price stood at Rs281.34 per litre.

The government will announce the new prices at midnight on November 15, 2024, which will remain in effect for the rest of the month.

To recall, in the last fortnight, the government increased the price of petrol by Rs1.35 a litre to Rs248.38 as Inland Freight Equalization Margin (IFEM) was raised by 112% to Rs7.89 from Rs3.72 per litre.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	185,098.83 381.92M	2.01% 3642.50
ALLSHR	111,509.35 956.25M	2.13% 2327.02
KSE30	56,737.75 167.91M	2.00% 1112.07
KMI30	260,872.72 165.83M	2.57% 6529.72
KMIALLSHR	71,488.31 461.39M	2.50% 1744.73
BKTi	53,691.60 50.03M	1.27% 672.83
OGTi	38,672.45 45.54M	4.90% 1805.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	95,660.00	96,060.00 94,395.00	305.00 0.32%
BRENT CRUDE	64.20	64.77 63.44	0.44 0.69%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-1.95 -2.20%
ROTTERDAM COAL MONTHLY	97.90	98.10 97.70	0.55 0.57%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	59.22	60.05 58.81	0.14 0.24%
SUGAR #11 WORLD	14.99	15.00 14.60	0.42 2.88%