Petrol price kept unchanged at Rs265.45 per litre for the next two weeks – SUCH TV

The federal government on Saturday kept the petrol price steady at Rs265.45 per litre for the next fortnight, following recommendations from the Oil and Gas Regulatory Authority (Ogra).

A notification from the Finance Division stated, “The government has revised petroleum product prices based on inputs from Ogra and the relevant ministries.”

However, the government raised the price of high-speed diesel (HSD) by Rs6, bringing it from Rs278.44 to Rs284.44 per litre.

Earlier, on November 1, the government had increased petrol by Rs2.43 per litre to Rs265.45, while HSD was raised by Rs3.02 to Rs278.44 for that fortnight.

Industry sources had indicated earlier this week that petroleum prices could surge by up to Rs9.60 per litre starting November 16, mainly due to a shortage of diesel in the Gulf region.

Pakistan, which imports most of its diesel from Kuwait, is experiencing supply constraints after maintenance work at one of Kuwait’s refineries.

Originally scheduled for early November, the shutdown has now been extended by 15 days, further tightening regional diesel supply.

Additionally, 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 running at full capacity.

The reduced output of HSD from these facilities has driven up international prices, directly affecting Pakistan’s import costs. Based on 13 days of price data, HSD was projected to rise by Rs9.60 per litre — a 3.4% increase — taking the price to Rs288.04 per litre from the current Rs278.44.

However, with two days of global trading data still pending, international oil prices may fluctuate further, meaning the final adjustment in POL prices could vary from the current estimates.

In contrast, the petrol prices are likely to see a marginal decrease of Rs1.96 per litre, with the new rate expected to settle at Rs263.49 per litre, compared to the current Rs265.45, reflecting a 0.7% drop.

Kerosene was also projected to surge by Rs8.82 per litre to Rs193.87, from Rs185.05 (an increase of 4.8%), while light diesel oil was likely to increase by Rs7.15 per litre to Rs171.13, from Rs163.98 (an increase of 4.4%).