Petrol price unchanged at Rs 265.45 per liter for next two weeks

• The revised fuel prices will remain in effect from November 16 to 30.
• Ogra looks at global oil trends before finalizing recommendations.
• The Finance Directorate issues a notification after examining the Ministry’s summaries.

The federal government on Saturday kept the price of petrol at Rs 265.45 per liter for the next fortnight, following recommendations by the Oil and Gas Regulatory Authority (Ogra).

“The government has revised the prices of petroleum products on the recommendation of Ogra and concerned ministries,” a Finance Department statement said on Saturday.

The government, however, increased the rates of high-speed diesel (HSD) by Rs 6 from Rs 278.44 to Rs 284.44 per litre.

On November 1, the government hiked petrol by Rs 2.43 per liter and fixed the price at Rs 265.45, while HSD rose by Rs 3.02 to Rs 278.44 for the fortnight.

Citing industry sources, The News earlier this week said that prices of petroleum products were likely to rise by as much as Rs 9.60 per liter for the next fortnight from November 16, mainly due to reduced availability of diesel in the Gulf region.

According to the sources, Pakistan, which imports most of its diesel from Kuwait, is facing supply constraints following maintenance work at one of the Kuwaiti refineries, sources told the English newspaper.

The maintenance shutdown, originally scheduled for early November, has been extended for another 15 days, curtailing regional diesel supplies.

In addition, production at Kuwait’s Al-Zour refinery — one of the largest in the region — has been partially affected, with only two of its three units operating at full capacity.

Lower HSD production from these facilities has pushed up international prices, directly impacting Pakistan’s import costs. As a result, based on 13-day price data, the HSD rate was forecast to rise by Rs 9.60 per litre, taking the new rate to Rs 288.04 per litre, from Rs 278.44 current — up 3.4%.

However, with two days of global trading still to go, international oil prices may fluctuate further, meaning the final adjustment to POL prices may differ from current estimates. In contrast, petrol prices are likely to see a marginal reduction of Rs 1.96 per litre, with the new price expected to be Rs 263.49 per litre, compared to the current Rs 265.45, reflecting a 0.7% decline.

Kerosene was also forecast to rise by Rs 8.82 per liter to Rs 193.87, from Rs 185.05 (up 4.8%), while light diesel was likely to rise by Rs 7.15 per liter to Rs 171.13, from Rs 163.98 (up 4.4%).