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Tag: diesel and petrol price in pakistan

petrol price

Petrol and Diesel Prices Are Likely To Decrease In May

Petrol and Diesel Prices

Ogra has proposed a reduction in petrol and diesel prices in the month of May.

According to petroleum division sources, the price of petrol can be reduced by Rs 7 to 10 per liter while the price of diesel is proposed to be reduced by Rs 8 per liter. OGRA has sent a summary of prices of petroleum products to the government.

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Finance Minister Ogra will consult with the Prime Minister on the recommendations while the final decision on the prices of petroleum products will be taken today.

The new prices of petroleum products for the next 15 days will be applied after 12 pm on May 15. It should be noted that in the last 14 days, the price of crude oil in the Brent oil market had reached 77.44 dollars per barrel.

Today petrol prices in Pakistan 2023

Diesel Price Likely To Increase By Rs 10 Per Litre In Pakistan

Diesel Price In Pakistan Is Likely To Increase By Rs 10 Per Litre

To meet the shortfall in revenue, the government has decided to increase the price of Petroleum Development Levy (PDL) over the next two months, which will result in an additional increase of Rs 10 per liter in the price of diesel.

While the government had set a target of collection of Rs 855 billion under PDL, the estimate was only Rs 680 billion. Therefore, to cover this gap of Rs 175 billion, the government has decided to increase the price of PDL on diesel by Rs 5 per liter from March 1 and by Rs 5 per liter from April 1, 2023.

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At present, the government is levying a levy of Rs 50 per liter on petrol and High Octane Blending Component (HOBC) while diesel has a levy of Rs 40 per litre. Sources said that now it will also be reduced to Rs 50 per liter during the next two months.

today petrol rate in pakistan 2022

Diesel is widely used in the agriculture and transport sectors, has a monthly consumption of more than 500,000 metric tons. Consumption in the 28 days of February was estimated at 565,000 metric tons. The price hike, however, is most likely to affect farmers entering the crop-sowing season – during which consumption typically increases.