Every time Petrol Prices Changed in Pakistan in 2024

In 2024, Pakistan’s fuel industry remained volatile due to fluctuations in global oil markets and high domestic economic strategies, which is all based on import mechanisms. Here is an in-depth analysis of the trends and transformations observed over the year.

Petrol and Diesel Price Changes Summary in 2024

The year began with petrol priced at Rs. 260.65 per liter and diesel at Rs. 264.21. From there, both fuels experienced alternating periods of increases and decreases. By the end of the year, on December 1, 2024, petrol was priced at Rs. 252.10, while diesel stood at Rs. 258.43.

January and February saw mild fluctuations, with prices decreasing by Rs. 5.00 mid-month and rebounding shortly after. This pattern of bi-monthly adjustments continued until March. Starting in May, the trend shifted as prices increased more consistently due to rising international crude oil costs. For instance, on May 1, petrol increased by Rs. 10.00, a steep hike compared to earlier months.

The mid-year period was the most volatile. From June to August, significant reductions occurred. On August 14, petrol fell by Rs. 8.47, while diesel decreased by Rs. 6.70. These changes coincided with falling global oil prices and currency stabilization efforts.

However, prices began rising again in September. By November, petrol had increased by Rs. 1.35, and diesel by Rs. 3.85. December concluded the year with a modest increase.

Observations

Fuel prices’ frequent adjustments in 2024 highlight their dependence on international oil markets and domestic economic conditions. Each fluctuation impacts transportation costs, goods pricing, and overall consumer spending. Understanding these changes is essential for stakeholders across industries to anticipate economic trends and adapt accordingly.

Detailed Chart of 2024’s Price Change Data

Here’s a detailed chat of all the times when petrol and diesel prices changed in Pakistan:

Let us know what you think about the fuel change trend.