In this article we will provide the daily Petrol Prices in Pakistan Where you can find the Today's latest petrol prices and other petroleum products, Petroleum prices are affected by a variety of factors including the cost of crude oil, refining and distribution costs, profits, and fuel taxes.
The cost of crude oil is particularly important as it represents the natural source of all petroleum by-products.
Refining, distribution and marketing costs, profits, and fuel taxes also play a significant role in determining the final price of petroleum products.
Petrol Prices May 2023
According to the announcement, the petrol price in Pakistan has been reduced by Rs. 12.00 per litre, while the price of high-speed diesel (HSD) has been slashed by Rs. 30.00 per litre. The price of kerosene and light diesel oil (LDO) has also seen a reduction of Rs. 12.00 per litre each.
Here is the updated price information for petrol and other fuels in Pakistan, effective from 16th May 2023:
Petrol:
- Old Price: Rs. 282.00 per litre
- New Price: Rs. 270.00 per litre
- Change: -Rs. 12.00
High-Speed Diesel (HSD):
- Old Price: Rs. 288.00 per litre
- New Price: Rs. 258.00 per litre
- Change: -Rs. 30.00
Kerosene Oil:
- Old Price: Rs. 176.07 per litre
- New Price: Rs. 164.07 per litre
- Change: -Rs. 12.00
Light Diesel Oil (LDO):
- Old Price: Rs. 164.68 per litre
- New Price: Rs. 152.68 per litre
- Change: -Rs. 12.00
The Government of Pakistan has announced a big relief for the public by reducing the prices of high-speed diesel (HSD) by Rs5 per litre, light diesel oil (LDO) by Rs10 per litre, and kerosene oil by Rs10 per litre for the next 15 days.
This decision has been taken due to the decrease in global crude oil prices and is expected to provide some relief to the people who have been struggling with high fuel prices for some time now.
The reduction in fuel prices will benefit the common man, as it will lower the transportation costs and the prices of essential goods. It will also help reduce the inflation rate in the country, which has been a major concern for the government and the people.
Today Petrol Prices in Pakistan From 7 April 2023
- High-Speed Diesel Price: Rs. 293/Ltr
- Premium Petrol Price: Rs. 272/Ltr
- Light Speed Diesel Price: Rs. 174/Ltr
- Kerosene Oil Price: Rs. 180.29/Ltr
- High Octane Price: Rs. 300.2/Ltr
| PETROLEUM PRODUCTS | Price |
|---|---|
| Premium Petrol | Rs. 272/Ltr |
| High Speed Diesel | Rs. 293/Ltr |
| Light Speed Diesel | Rs. 174/Ltr |
| Kerosene Oil | Rs. 180.29/Ltr |
| High Octane | Rs. 300.2/Ltr |
Today Petrol Prices in Pakistan From 6 April 2023
- High-Speed Diesel Price: Rs. 293/Ltr
- Premium Petrol Price: Rs. 272/Ltr
- Light Speed Diesel Price: Rs. 174/Ltr
- Kerosene Oil Price: Rs. 180.29/Ltr
- High Octane Price: Rs. 300.2/Ltr
| PETROLEUM PRODUCTS | Price |
|---|---|
| Premium Petrol | Rs. 272/Ltr |
| High Speed Diesel | Rs. 293/Ltr |
| Light Speed Diesel | Rs. 174/Ltr |
| Kerosene Oil | Rs. 180.29/Ltr |
| High Octane | Rs. 300.2/Ltr |
Petrol Prices in Pakistan From 2 April 2023
- High-Speed Diesel Price: Rs. 293/Ltr
- Premium Petrol Price: Rs. 272/Ltr
- Light Speed Diesel Price: Rs. 174/Ltr
- Kerosene Oil Price: Rs. 180.29/Ltr
- High Octane Price: Rs. 300.2/Ltr
| PETROLEUM PRODUCTS | Price |
|---|---|
| Premium Petrol | Rs. 272/Ltr |
| High Speed Diesel | Rs. 293/Ltr |
| Light Speed Diesel | Rs. 174/Ltr |
| Kerosene Oil | Rs. 180.29/Ltr |
| High Octane | Rs. 300.2/Ltr |
Petrol Prices in Pakistan From 1 April 2023
- High-Speed Diesel Price: Rs. 293/Ltr
- Premium Petrol Price: Rs. 272/Ltr
- Light Speed Diesel Price: Rs. 174/Ltr
- Kerosene Oil Price: Rs. 180.29/Ltr
- High Octane Price: Rs. 300.2/Ltr
| PETROLEUM PRODUCTS | Price |
|---|---|
| Premium Petrol | Rs. 272/Ltr |
| High Speed Diesel | Rs. 293/Ltr |
| Light Speed Diesel | Rs. 174/Ltr |
| Kerosene Oil | Rs. 180.29/Ltr |
| High Octane | Rs. 300.2/Ltr |
Petrol Price Table up to 28-Feb-2023
- High-Speed Diesel Price: Rs. 280/Ltr
- Premium Petrol Price: Rs. 272/Ltr
- Light Speed Diesel Price: Rs. 196.86/Ltr
- Kerosene Oil Price: Rs. 202.73/Ltr
- High Octane Price: Rs. 288.89/Ltr
| PETROLEUM PRODUCTS | Price |
|---|---|
| Premium Petrol | Rs. 272/Ltr |
| High Speed Diesel | Rs. 280/Ltr |
| Light Speed Diesel | Rs. 196.88/Ltr |
| Kerosene Oil | Rs. 20.73/Ltr |
| High Octane | Rs. 288.89/Ltr |
Governments, particularly in developing countries, may also influence petrol prices through subsidies. These subsidies are intended to ease the financial burden on citizens and are often provided based on the financial capacities of the respective economies. For example, in Pakistan, the federal government grants millions of rupees as subsidies to maintain fuel prices and provide relief to the common man.
However, Pakistan still lacks a consistent policy for the provision of fuel subsidies. This can lead to confusion and uncertainty for both citizens and businesses and can make it difficult to predict and plan for future fuel prices.
Despite the government's efforts to provide relief through subsidies, the lack of consistency in policy can make it difficult for citizens and businesses to budget and plan effectively.
Petrol prices in a particular country or region are affected by a lot of factors. The cost of crude oil (the natural source of all petroleum by-products), refining, distribution and marketing costs, profits, and fuel taxes are some of the noteworthy factors.
Depending on the financial capacities of their respective economies, governments, especially in developing countries like ours, also subsidize fuel prices to ease up the financial burden on the general public.
In Pakistan, the federal government grants millions of rupees as subsidies to maintain fuel prices and provide relief to the common man. However, the country still lacks a consistent policy for the provision of fuel subsidies.
| Factors | Examples |
|---|---|
| Cost of crude oil | The natural source of all petroleum by-products |
| Refining and distribution costs | Refining and distribution costs of petroleum products |
| Profits | Profit margin of petroleum companies |
| Fuel taxes | Taxes imposed on petroleum products by the government |
| Government subsidies | Subsidies provided by the government to ease financial burden on citizens |
The prices of fuel in Pakistan can fluctuate due to various factors such as changes in the cost of crude oil, government policies, and international market conditions.
As of January 2023, the current petrol prices of the most commonly available petroleum by-products in the country are as follows:
| Fuel Type | Fuel Price till 15 Dec 2022 | Fluctuations | Fuel Price from 16 Dec 2022 |
|---|---|---|---|
| Petrol | PKR 224.8 | Decreased by PKR 10 | PKR 214.8 |
| Diesel | PKR 235.3 | Decreased by PKR 7.5 | PKR 227.8 |
| Light Diesel | PKR 179 | Decreased by PKR 10 | PKR 169 |
| Kerosene Oil | PKR 181.83 | Decreased by PKR 10 | PKR 171.83 |
Who Control The Petroleum Products Prices
The Oil and Gas Regulatory Authority (OGRA) was established in 2002 by the Government of Pakistan to regulate the fuel sector in the country. OGRA's main responsibility is to monitor the demand and supply of fuel and other key resources and to make recommendations for changes in fuel prices in Pakistan.
These recommendations are then presented to the Prime Minister of Pakistan for approval before they can be implemented. However, if the Prime Minister does not approve the prices, they remain unchanged. The process of finalizing prices also involves negotiations between the government and OGRA.
The Finance Minister of Pakistan, Ishaq Dar, announced that the prices of petrol and diesel will remain unchanged until January 15, 2023. As per the announcement, petrol will be available at Rs214.80 per litre and diesel at Rs227.80 per litre.
The decision was made to provide maximum relief to the people, as per the desire of Prime Minister Shehbaz Sharif.
Sasta Petrol Scheme
The government of Pakistan has introduced the Sasta Petrol Sasta Diesel scheme to provide relief to low and middle-income motorists from price inflation. Under this scheme, motorists with a household income of less than Rs.40,000 per month will be eligible for the benefits.
Additionally, recipients of the Benazir Income Support Programme (BISP) will automatically be registered in this scheme. Others can apply by sending their CNIC numbers to 786 from June 1st. The CNIC should be of a woman head of household (married or widow) and if registered, will receive Rs.2,000 in addition to what is being provided under BISP.
It's worth noting that a similar scheme was tried by the previous government under the Ehsaas Programme but was not successful. It remains to be seen if this scheme fares any better.
The government of Pakistan has decreased the prices of petroleum products, but it has also increased the rate of Petroleum Development Levy (PDL) on them. The PDL is a tax imposed on petroleum products and is used to fund development projects.
The latest PDL rates in Pakistan are as follows:
| Product | Old Rate (Rs.) | New Rate (Rs.) | Difference (Rs.) |
|---|---|---|---|
| Petrol | 50 | 50 | 0.00 |
| High Speed Diesel | 25 | 30 | +5.00 |
| Kerosene Oil | 7.01 | 13.10 | +6.09 |
| Light Diesel | 15.39 | 16.29 | +0.90 |
On November 16, 2022 The government of Pakistan has increased the petroleum levy on high-quality petrol to Rs50 per litre, instead of imposing a 17% sales tax. This move will result in an increase in fuel prices in the country. Additionally, the government has also allowed an increase in premium for diesel-importing oil marketing companies (OMCs).
Petroleum Prices Increase due to IMF
The decision was taken during a meeting of the Economic Coordination Committee (ECC) of the Cabinet, presided over by the Federal Minister for Finance, Ishaq Dar. The ECC also released Rs5 billion for holding the next population census, which will be the base for the general elections next year.
Before increasing the levy tax on petroleum products, The petroleum products were low and in the tenure of the PTI govt the petroleum prices were very low, and Ex-Prime minister Imran Khan was removed by the PDM.
Pakistan's economic condition has been marked by a number of challenges in recent years, including high inflation, a large trade and current account deficit, and a shortage of foreign exchange reserves. The country's GDP growth has been relatively low and has been affected by factors such as political instability, energy shortages, and security concerns.
The government of Pakistan has implemented a number of economic reforms in an effort to stabilize the economy and improve growth. These include efforts to increase tax revenue, reduce the budget deficit, and improve the business climate. The government has also taken steps to address energy shortages and improve infrastructure.
The Finance Minister of Pakistan blamed the previous government for making a problematic agreement with the International Monetary Fund (IMF), which has constrained the ability of the current government to increase oil prices in order to stabilize the economy.
He stated that the government faces a significant challenge in rescuing the country and that failure to increase oil prices could result in a default. He acknowledged that increasing the prices of petroleum products is a difficult decision, but he reassured that the government will take measures to protect the poor.
