Tag: kerosene

  • Govt hikes petrol price by Rs5 to Rs272 per litre to match global market changes

    Govt hikes petrol price by Rs5 to Rs272 per litre to match global market changes

    As per a press release from the Finance Division, the government has decided to raise the price of petrol by Rs5 per litre to Rs272 per litre for the next two weeks, effective from March 16 (Thursday).

    The statement noted that the increase was due to the rise in Platts Singapore prices over the past two weeks and the depreciation of the Pak Rupee, resulting in a hike in petroleum, oil, and lubricant (POL) products in Pakistan.

    The notification further disclosed that the price of high-speed diesel has been increased by Rs13 per litre to Rs293 per litre, and kerosene has been raised by Rs2.56 per litre to Rs190.29 per litre by reducing government dues on them. However, the price of light diesel oil has been kept constant at Rs184.68 per litre by adjusting government dues.

    It’s worth mentioning that Finance Minister Ishaq Dar had previously announced a reduction in petrol prices by Rs5 per litre on February 28.

  • Petrol, diesel prices to remain unchanged for the next 15 days

    Petrol, diesel prices to remain unchanged for the next 15 days

    Despite a global decrease in oil prices, the federal government has decided to maintain the existing prices of petrol and diesel for the next 15 days.

    Finance Minister Ishaq Dar announced to keep the prices of petrol and high-speed diesel unchanged for the next 15 days. However, he announced a reduction of Rs10 per litre in the prices of kerosene oil and Rs7 on light diesel oil.

    The current prices for petrol are Rs224.80 per litre and Rs235.30 for High-Speed Diesel (HSD).

    Furthermore, Dar also announced a 15-day extension in the filing of income tax returns.

    On November 15, the finance minister announced to keep the prices of petrol, diesel, and other petroleum products unchanged. He said that the prices of petrol, diesel, light diesel and kerosene oil will remain unchanged till November 30 as per the federal government’s decision.

  • Govt raises petrol price by Rs2.07 to Rs235.98 per litre

    Govt raises petrol price by Rs2.07 to Rs235.98 per litre

    The price of petrol was raised by the government on Wednesday by Rs2.07 per litre, making it Rs235.98 for the upcoming two weeks.

    Additionally, it announced a hike in the costs of kerosene oil by Rs9.79 per litre to Rs201.54, high-speed diesel by Rs2.99 per litre to Rs247.43, and light diesel oil by Rs10.92 per litre to Rs210.32.

    Contrary to what the market anticipated, the decision to raise gasoline prices, even more, was finally made. In the first half of September 2022, the market anticipated a price drop of up to Rs 20 per litre for the two main petroleum products—petrol and high-speed diesel.

    Expectations were sparked by a decline in the average exchange rate for the purchase of Pakistan State Oil (PSO), which fell from Rs227 in the first half of August to Rs217 in the next15 days.

    Similar to this, the premium paid on gasoline and HSD in the first half of August had decreased from $17 and $8.5 per barrel, respectively.