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Tag: petroleum price in pakistan today

Today petrol prices in Pakistan 2023

Petrol Prices Have Been Reduced In Pakistan For December

Pakistan Petrol Prices

The Caretaker Government of Pakistan has decided to reduce the prices of petrol in Pakistan from 16 December 2023, It has been decided to reduce the price of petrol by Rs 14 per liter and diesel price by Rs 13.50 per litre. A notification has been issued in this regard. The reduction in the prices of petroleum products will be implemented from 12 pm today.

As per the revised prices, petrol is now retailing at Rs 267.34 per litre, while HSD is Rs 276.21. This double-digit reduction translates to a nearly 5% drop in fuel prices, a welcome change for consumers battling inflation and rising living costs.

Today Petrol Price In Pakistan – 1 December 2023

The prices of Kerosene Oil (SKO) and Light Diesel Oil (LDO) have also been reduced by Rs 10.14 and Rs 11.29 per liter respectively. After the price cut, SKO has settled at Rs 191.02 and LDO has settled at Rs 164.64.

Product Old Price New Price Difference
MS Petrol 281.34 267.34 -14.00
Hi-Speed Diesel 289.71 276.21 -13.50
Kerosene (SKO) 201.16 191.02 -10.14
Light Diesel Oil (LDO) 175.93 164.64 -11.29

Prices depend on current tax rates and import prices, which are mainly due to fluctuations and increases in international oil prices.

The caretaker government’s decision to pass on the benefit of international prices to consumers is a positive step towards providing relief in these tough economic times. It demonstrates the administration’s commitment to fiscal responsibility and its understanding of the challenges faced by the people of Pakistan.

petrol price

Price Of Petrol Is Expected To Increase By Rs 15 from September 16

Price Of Petrol

The price of Petrol may increase from September 16, 2023. After the increase in the price of crude oil by $5 per barrel in the global markets, the prices of petroleum products are likely to increase by 15 rupees per liter on September 16.

Amid rising crude oil prices in international markets, fears of a new inflationary storm are rising in Pakistan. If the value of the dollar does not fall further, the prices of petroleum products may increase from September 16. An increase of Rs 15 per liter is possible.

Petrol Price Barrel

The price of crude oil in the Gulf market increased from $88 per barrel to $93. According to the Pakistani currency, the price of crude oil in the world market on September 1 was 25 thousand 344 rupees per barrel, in which an increase of 2 thousand 742 rupees was recorded.

Today Petroleum Price In Pakistan – 1 September 2023

After the increase in prices, the price of crude oil in Pakistani currency has reached 28 thousand 86 rupees per barrel.

petrol price

Possibility Of Increasing Petroleum Price In Pakistan On 15 April 2023

The possibility of increasing petroleum price in Pakistan on 15 April 2023 on the demand of IMF

Experts were of the view that the depreciation of the rupee against the US dollar and the rise in international oil prices over the past two weeks could push up local prices, there is possibility of increasing petroleum price in Pakistan on 15 April 2023

Pakistan announces revision of petroleum prices every 15 days based on changes in international oil prices and other domestic factors including exchange rates.

The country had maintained the prices of petrol and high speed diesel (HSD) for the next fortnight starting from 01 April 2023 on 31 March 2023.

About Petroleum Price

Finance Minister Ishaq Dar, while announcing the petroleum prices for the next fortnight, has maintained the prices of petrol and diesel at Rs. 272 and Rs. 293 per liter respectively. However, the prices of kerosene and light diesel oil have decreased by Rs 10 to Rs 180.29 and Rs 174.68 respectively.

پنجاب میں پیٹرول کی قلت کی وجہ سامنے آگئی

Since the beginning of this month, the Pakistani Rupee (PKR) has seen a sharp decline against the dollar due to the uncertainty of funding from the International Monetary Fund (IMF) and other friendly countries. The local currency recorded PKR 287.85 against the dollar in the interbank foreign exchange market on April 05, 2023.

On the other hand, the international prices of the benchmark Brent crude also recorded an increase due to the reduction in production by OPEC in the last few days. By the end of March 2023, Brent crude was trading at $73 per barrel. However, it rose to $84 per barrel in the first week of April 2023.

Pakistan is a net importer of petroleum products to meet its domestic demand. Any revision in exchange rate and increase in international oil prices affects local prices.

According to data released by the Pakistan Bureau of Statistics (PBS), the country’s oil import bill fell to $11.88 billion in the first eight months (July-February) of the fiscal year 2022/2023.

The country’s petroleum import bill declined by 8.28 percent to $11.88 billion during the eight months of the current fiscal year from $12.95 billion in the corresponding months of the previous fiscal year.

However, on the other hand, the import bill increased by 23% as a result of the massive depreciation of the Pakistani Rupee (PKR). In rupee terms, the petroleum bill rose to PKR 2.72 trillion during the first eight months of the current fiscal year as against PKR 2.21 trillion in the same months of the previous fiscal year.

In the petroleum group, imports of petroleum products during July-February 2022-2023 declined by 14.47 percent to $5.35 billion as against $6.26 billion in the same period last fiscal.

today Petrol Price In Pakistan - Expected fuel prices

Petrol 5, Diesel 20 Per Liter Likely To Be Cheaper From April 1

Islamabad: Petrol and diesel prices are expected to decrease due to the decrease in crude oil prices in the international market from April 1, 2023  in Pakistan.

Petrol and diesel prices may decrease from April 1 due to fluctuations in crude oil prices in the global market. Oil marketing companies estimate that diesel could be cheaper by Rs 15-20 and petrol by Rs 4-5 per litre.

On the other hand, industry sources say that there is no possibility of any change in the prices.

Gold Rate In Pakistan | Gold Price

The expected decrease in fuel prices is expected to bring a sigh of relief for the masses who are forced to pay Rs272 per litre for petrol as the government earlier soared the petrol prices by Rs5 per litre for the fortnight.

The expected drop in fuel prices in Pakistan is expected to bring a sigh of relief to the public who are forced to pay Rs. 272 per liter for petrol as the government had already hiked petrol prices by Rs 5 per liter for a fortnight.