Tag: petrol price in Pakistan today

  • New fuel prices announced

    New fuel prices announced

    The government of Pakistan has announced the prices of petroleum products, under which the price of petrol will remain the same.

    Petrol price in Pakistan today

    The cost of gasoline per litre has been maintained at 247.3 Rupee while the price of diesel has been increased.

    The price of high-speed diesel has been increased by Rs 5 per litre, after which the new price of high-speed diesel has risen to 251. 29 Rupee per litre.

    According to the notification issued by the Ministry of Finance, the prices will be applicable from October 16 to October 31.

    Record increase in crude oil production:

    Apart from this, an increase in crude oil production in Pakistan has been recorded on a weekly basis. According to Pakistan Petroleum Information Service (PPIS) and industry data, the average daily output of crude oil in the country for the week ended September 30 was recorded at 63,898 barrels, which is one per cent higher than the previous week. The average daily production of crude oil was recorded at 63376 barrels.

  • Govt cuts petrol price by Rs8.47 per litre ahead of schedule

    Govt cuts petrol price by Rs8.47 per litre ahead of schedule

    The government has unexpectedly reduced petroleum prices ahead of the scheduled review date of August 16.

    For the remainder of the month, petrol prices have been cut by Rs8.47 per litre, largely due to a decline in global fuel prices.

    The new petrol price is Rs260.96 per litre, down from Rs269.43. In addition, the price of high-speed diesel (HSD) has been reduced from Rs272.77 to Rs266.07, a decrease of Rs6.70 per litre.

    The announcement was made by the Ministry of Information on Tuesday.

    While some may view this as a positive development, the reduction may not provide significant relief, as petrol remains above Rs260 per litre.

    However, it could help some individuals save a small amount and slightly reduce their daily commuting expenses.

  • Petrol price may be reduced by more than Rs10 per litre this week

    Petrol price may be reduced by more than Rs10 per litre this week

    Pakistan may experience a notable drop in fuel prices in the near future, with reductions of up to Rs12 per litre anticipated for various petroleum products, according to industry sources.

    Initial estimates indicate that the price of petrol could fall by more than Rs9 per litre, while high-speed diesel (HSD) might see a decrease of up to Rs8.50 per litre. Kerosene oil is also expected to become more affordable, with potential price cuts exceeding Rs12 per litre.

    The Oil and Gas Regulatory Authority (OGRA) is expected to finalise these pricing adjustments and submit its recommendations to the government by August 15. Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif, will make the final decision on the new fuel prices.

    If approved, these reductions could offer significant relief to consumers grappling with high inflation and increasing living costs throughout the country. Further updates are anticipated following OGRA’s report submission.

  • Govt hikes petrol price by Rs9.99 per litre, diesel by Rs6.18 for the rest of July 2024

    Govt hikes petrol price by Rs9.99 per litre, diesel by Rs6.18 for the rest of July 2024

    The government has announced an unexpected increase in petrol and diesel prices for the next fortnight.

    In response to the rise in international oil rates, the price of petrol in Pakistan has been raised by Rs9.99 per litre to Rs275.60. Concurrently, the price of High Speed Diesel (HSD) has been increased by Rs6.18 per litre, bringing it to Rs283.63.

    The Finance Division issued a notification for these latest fuel prices under the fresh fortnightly review. This increase is expected to further exacerbate the financial burden on the populace, who are already struggling with the high costs of essential food items and basic necessities.

    Previously, there were projections that the government might increase the petrol price by Rs6-7 per litre, but such a significant hike was not anticipated.

    The Finance Division clarified that the duties and levies will remain unchanged, meaning the Petroleum Development Levy (PDL) stays the same in this latest fuel price review.

    This is the second time in a row that the government has not increased the levy on petroleum products.

  • Govt expected to reduce petrol price again for second half of June

    Govt expected to reduce petrol price again for second half of June

    The government is expected to reduce petrol price by an additional Rs9 per liter for the latter half of June 2024, offering some relief to the public amidst soaring inflation.

    This anticipated reduction marks the fourth consecutive decrease, accumulating to a total relief of over Rs34 per litre.

    In tandem with the petrol price cut, the government is also likely to lower the price of high-speed diesel (HSD) by approximately Rs5 per liter, reflecting the downturn in international market prices.

    It is important to highlight that one more session remains before the final pricing update, which means that the exact figures will depend on fluctuations in global markets and the prevailing exchange rate.

    The new prices will be officially announced at midnight on 15th June 2024 and will be effective for the subsequent 15 days.

    In the most recent fortnightly adjustment, the government had reduced petrol and HSD prices for the third consecutive time by Rs4.74 and Rs3.86 respectively, bringing their prices to Rs268.36 and Rs270.22 per liter.

    This series of price reductions aims to provide some economic respite to consumers amid a challenging economic environment.