Tag: Latest Petrol Price

  • Petrol price increased by Rs17.50 to Rs290.45 per litre

    Petrol price increased by Rs17.50 to Rs290.45 per litre

    The caretaker government has increased the petrol price by Rs17.50 to Rs290.45 per litre while diesel price has been increased by Rs20 to Rs293.40 per litre.

    The situation appears to be worsening for the already burdened population, who were already facing challenges in affording expensive petrol. Now, an additional financial strain is looming as they will be obligated to pay even higher prices.

    The Finance Division, addressing the recent developments, explained that the escalation of petroleum prices in the international market over the past two weeks has necessitated a revision in consumer prices within Pakistan. This decision has been made in response to the global market dynamics impacting local prices.

    This announcement follows a substantial price hike in fuel that was announced by the former Pakistan Democratic Movement (PDM)-led government on August 1.

    At that time, a significant increase of Rs19 per litre in the prices of both petrol and diesel was introduced. This move was attributed to the mounting global oil prices.

  • Petrol price reduced by Rs12.63 to Rs224.80 per litre

    Petrol price reduced by Rs12.63 to Rs224.80 per litre

    Finance Minister Ishaq Dar has announced a significant reduction in petrol prices on Friday, cutting the cost by Rs12.63 per litre to Rs224.80 per litre.

    A reduction of Rs12.13 has also been made to the cost of high-speed diesel, bringing the new price down to Rs235.30 per litre. After a reduction of Rs10.19 per litre, the cost of light diesel oil will be Rs191.83, according to Geo News.

    The new petrol price will go into effect after 12 AM.

    According to a statement from the Finance Division, the government decided to lower the price of petroleum goods in response to a drop in the price of these products on the global market and to help consumers who had been affected severely by inflation.

  • Govt slashes petrol price by Rs3.05, raises diesel by Rs8.95 per litre

    Govt slashes petrol price by Rs3.05, raises diesel by Rs8.95 per litre

    Due to changes in oil prices on the global market, the government announced a revision in petroleum prices on Sunday.

    According to a statement released by the Finance Division, the cost of petrol has been reduced by Rs3.05 a litre for the first half of August 2022.

    Petrol will now be sold for Rs227.19 per litre as a result of the pricing revisions. Previously, the price of petrolin the country per litre was Rs230.34.

    The price of high-speed diesel has been upped by Rs8.95, the new price per litre is now Rs244.95.

    The depreciation of the rupee against US dollar has raised the cost of purchasing petroleum products, the Ministry of Energy notified the Economic Coordination Committee (ECC) of the cabinet today.

  • Govt may cut petrol price by Rs11 per litre today

    Govt may cut petrol price by Rs11 per litre today

    The price of petrol may be reduced by Rs11 per litre by the government, according to sources privy to the matter.

    According to Dawn, the cost of petrol is anticipated to drop by Rs11 per litre, while the cost of high-speed diesel is anticipated to rise by Rs8 per litre. Petrol is currently available for Rs230 per litre.

    The tax on petrol is expected to surge by Rs5 per litre and the tax on diesel, kerosene, and light diesel by Rs10 per litre, as per reports.

    However, the Ministry of Finance will reveal a price revision today, and the new rates will take effect on August 1.

  • Petrol, diesel prices may increase by Rs10-17 per litre

    Petrol, diesel prices may increase by Rs10-17 per litre

    Despite the fact that the prices for petroleum products and crude oil have remained largely stable, the price of petrol and diesel may increase by Rs10 to Rs17 per litre as of August 1, 2022. The depreciation of the Pakistani rupee is anticipated to be the cause of the upcoming increase.

    According to The News, sources claim that without taking into account the petroleum levy (PL), a price increase of Rs10 for petrol and Rs16–17 for diesel has been estimated. Additionally, Mogas prices have been forecasted at Rs15 per litre and diesel at Rs23 per litre if the government increases the petroleum levy of Rs5 per litre on gasoline.

    The anticipated increase in POL prices has also been calculated without taking into account the ECC’s Thursday approval of an increase in dealers’ margins (DMs) on POL prices of Rs2.10 per litre for gasoline and Rs2.87 per litre for diesel to Rs7 per litre. Petrol’s price could increase by Rs2.10 to Rs17.10 per litre, and diesel’s price could increase by Rs2.87 to Rs25.87 per litre.

    The increase in dealers’ margin will take effect on August 1, 2022, if the federal cabinet approves this decision in the next two days. Industrial sources reported that the US dollar has increased in value by Rs40 so far this month.

    The current exchange rate against the US dollar is Rs239.9427, and the open market price is Rs246.15. However, they did say that the exact price of gasoline and diesel will depend on the exchange rate in force as of today (Friday).

    Since the price of crude oil as of Thursday settled at $99.4 per barrel, according to independent experts, Pakistani consumers won’t be able to benefit from the decrease in price of POL as a result of the rising exchange rate. The government seems more inclined to impose PL on both gasoline and diesel by Rs5 per litre each.

    Liquefied petroleum gas (LPG) costs also rose by Rs10 per kilogramme on Wednesday without an Oil and Gas Regulatory Authority notification (OGRA).

    The chairman of the LPG Distribution Association (LDAP), Irfan Khokhar, told Profit that a household cylinder now costs Rs2,750 after an increase of Rs150, while the cost of a commercial cylinder has increased by Rs450 to Rs10,438 as a result of the unannounced price increase.

  • Petrol price reduced by Rs18.50 per liter, Diesel by Rs40.54 per liter

    Petrol price reduced by Rs18.50 per liter, Diesel by Rs40.54 per liter

    In an attempt to provide relief to the masses and share the advantages of falling crude prices on the global market, the price of petrol has been slashed by Rs18.50 per liter.

    The price reductions for petroleum products were announced by the Prime Minister, Shehbaz Sharif, in an address to the nation.

    Diesel will now cost Rs236 per liter, while gasoline will now be sold at Rs230.24 per liter. The new prices for petroleum products, according to the Prime Minister, will take effect from midnight.

    He went on to explain why, after taking office, his government had to raise the price of gasoline. He continued, “We had raised fuel prices to meet the demands made by the International Monetary Fund (IMF), which were approved by the previous administration.

    “The government has decided to pass on the relief to the people and has therefore reduced the price of petrol and diesel by Rs18.50 and Rs40.54 per liter, respectively,” he continued.