Petrol Prices to Rise Marginally, Diesel Costs to Drop from December 16
The federal government is set to adjust fuel prices for the next fortnight, starting December 16, 2024, with a minor hike of Re0.81 per litre in petrol prices and a moderate reduction of Rs3.94 per litre in diesel prices, The News reported.
These changes reflect international market fluctuations over the past 12 days, influenced by volatility stemming from the ongoing regime change in Syria. If stability returns to Syria, fuel prices may decrease further, as global crude oil and petroleum product supplies remain abundant despite lower demand.
Proposed Prices
- Petrol: Expected to rise to Rs252.92 per litre from Rs252.10.
- High-Speed Diesel (HSD): Likely to drop to Rs254.53 per litre from Rs258.43.
In the last review, petrol prices increased by Rs3.72 per litre, while diesel saw a Rs3.29 per litre hike.
Impact on Consumers
Petrol is widely used in private transportation, small vehicles, rickshaws, and two-wheelers. Any increase in petrol prices directly affects the middle and lower-middle classes, who rely on it for daily commuting.
Diesel, however, plays a vital role in the transport and agriculture sectors, powering trucks, buses, trains, and machinery such as tractors and threshers. A reduction in diesel prices could help moderate inflationary pressures, particularly on the cost of food and essential goods, which are heavily influenced by diesel-powered logistics.
The proposed adjustments offer slight relief for consumers dependent on diesel, while petrol users face a marginal increase in costs. As global conditions evolve, further price changes may follow.
