Dharshini RDA 
The Pakistan government is ready to increase the fuel prices to a very high level for which major adjustments of the petrol, diesel, and kerosene prices could be made in the next fortnight. New rates are expected to be recommended as soon as the Ministry of Petroleum gets clearance from Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif keeping in view the fluctuating crude oil prices across the globe. These expected changes are likely to affect the consumers as well as the industries, clearly showing that the nation is still likely to face more economic hardships.
The proposed price hikes are major as petrol is expected to go up by PKR 3.15 per liter, diesel by PKR 3.20 per liter, and kerosene oil by PKR 4 per liter. These adjustments occur while the global crude oil prices have been volatile, and have been considered as the main reason for the potential increase in prices. Presently, petrol costs PKR 248.38, High-speed diesel costs PKR 255.14, Light Diesel oil costs PKR 147.51, and Kerosene costs PKR 161.54 per liter.
Finally, a decision on the matter will be made on November 30, and the new prices will be between December 1, 2024, to December 15, 2024. Now, the Ministry of Petroleum is very painstakingly making suggestions to the Ministry of Finance, and studying the conditions on the market. As seen from the cross-sectoral cooperation of the key government representatives it can be stated that some attention is being paid to potential economic impact of such price oscillations.
