Petroleum prices likely to go up on new year

The federal government is preparing to announce changes in petroleum prices on December 31, potentially leading to increases in diesel and kerosene oil prices, while petrol prices are expected to remain unchanged, according to sources within the Petroleum Division.

Projected Changes:

• Diesel: Price may increase by more than Rs4 per litre.
• Kerosene Oil: Likely to see a Rs1 per litre hike.
• Petrol: Prices may remain stable but could also rise depending on the final review.

The decision will be finalized after consultations between the Finance Minister and the Prime Minister, with the official notification expected on the last day of the year.

Recent Trends:

During the December 15 price review, the government left petrol prices unchanged at Rs252.10 per litre but reduced the cost of:

• High-Speed Diesel: Down by Rs3.05 to Rs255.38 per litre.
• Kerosene Oil: Reduced by Rs3.32 to Rs161.66 per litre.
• Light Diesel: Lowered by Rs2.78 to Rs148.95 per litre.

The anticipated adjustments are part of the government's regular price review, influenced by global market trends and domestic economic considerations.

Stay tuned for the official announcement on December 31.