Latest fuel prices in Pakistan [November 15 update]

As per earlier reports, a meeting was held last night regarding a decrease in fuel prices. Sources suggest that there will be no relief on fuel prices and prices may actually increase after November 15, 2023.However, the new price of petrol stands at Rs 281.34 while the new price of High speed Diesel stands at 296.71.

Fuel prices were thought to decrease after November 15 but due to the depreciation of Pakistani Rupee against the US Dollar, prices are likely to stay the same or even increase.

The government may decide to increase the price of petrol while decreasing the price of diesel. However, the caretaker government could also decide to keep the price of both petrol and diesel unchanged as well.

As per sources, the fluctuation in the ex-refinery prices and the depreciation of Rupee against the USD will influence the fuel prices. Sources suggest that the ex-refinery price is likely to increase from Rs 199.16 to Rs 202.34 on November 15, 2023.

However, the ex-refinery price of diesel is expected to drop from Rs 225.72 to Rs 217.52 on 15th of November 2023.

OGRA is all set to send the summary of the revised prices on November 15th to the Ministry of Petroleum. The Finance Ministry is likely to announce the final prices after consultation with the Prime Minister of Pakistan.

The new prices of petrol and HSD came after OGRAs proposal. Effective from November 16, the price of petrol decreased and the new price stands at Rs 281.34 while the new price of High speed Diesel stands at Rs 296.71.