Petrol prices expected to increase, diesel prices to drop from December 16
A minor increase of 81 paisas per litre in petrol prices and a decrease of Rs3.94 per litre in diesel prices have been proposed for the upcoming fortnight, starting December 16, 2024. These adjustments reflect price trends from the first 12 days of the current fortnight, driven by international market volatility amid the regime change in Syria.
If implemented, the price of petrol will rise to Rs252.92 per litre from the current Rs252.10, while diesel prices will drop to Rs254.53 per litre, down from Rs258.43. Despite the fluctuations, global markets continue to report ample supply of crude oil and petroleum products, though demand remains subdued. Analysts suggest that if stability returns to Syria soon, further reductions in petroleum prices may follow.
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The Finance Ministry previously revised petroleum prices starting December 1, with petrol becoming Rs3.72 per litre more expensive and diesel increasing by Rs3.29 per litre. Kerosene prices, however, saw a slight reduction of 62 paisas per litre, and light diesel dropped by 48 paisas per litre.
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