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January 30, 2023January 30, 2023

Government Permits ‘Sky High’ Increase In Gasoline Prices

January 30, 2023 / By Zunair Tahir / Pakistan News

Finance Minister Ishaq Dar explains that the price of gasoline and high-speed diesel increased by 35 rupees per litre, that the price of kerosene oil has increased to 189.83 rupees per litre, and that the price of light diesel oil has increased to 187 rupees per liter. He also notes that on the instructions of the Prime Minister, the price of gasoline remained unchanged for the previous four months.

Due to an increase in the price of oil on the worldwide market and the devaluation of the Pakistani rupee against the US dollar, the government has increased the price of gasoline and high-speed diesel (HSD) by Rs 35/liter each.

PRODUCT	NEW PRICES
Petrol	PKR 249.80
High Speed Diesel (HSD)	PKR 262.80
Light Diesel Oil (LDO)	PKR 187.00
Kerosene Oil	PKR 189.83

Ishaq Dar, the federal minister of finance, announced a hike in the price of all petroleum products, including gasoline, high-sulfur diesel, kerosene, and light diesel oil, in a brief televised address on Sunday morning (LDO). The price of gasoline and diesel would rise by 35 rupees per liter, the minister announced. He announced an increase of Rs 18 per liter in the price of light fuel and kerosene.

High speed diesel now costs Rs 262.80 per liter as opposed to Rs 227.80 per liter before the hike. From an early price of Rs 214.80/liter, the price of motor spirit/petrol reached a record high of Rs 249.80/liter. Kerosene oil’s price has increased from Rs. 171.83/liter to Rs. 189.83/liter. Light diesel oil now costs Rs 187 per liter as opposed to Rs 169 per liter.

Ishaq Dar recalled that the price of gasoline did not increase during the previous four months, from October to January 29. He also said that kerosene and diesel costs have been reduced.

Last week, the Pakistani rupee lost about 12 percent of its value versus the US dollar, while oil prices rose 11 percent globally. On the instructions of Prime Minister Shehbaz Sharif, it has been agreed to make a modest rise in the pricing of petroleum products notwithstanding international prices and currency depreciation, the finance minister stated. Dar stated that the hike is being implemented right away after the oil and gas regulatory authority’s proposal (OGRA).

OGRA claims that there have been complaints of false shortages and gasoline stockpiling in anticipation of price increases; as a result, this price increase is being implemented right away to address the artificial scarcity, the official stated. By 11 a.m., the revised pricing would go into effect in the following two to three minutes, according to Dar.
The minister anticipated that announcing increased pricing would put an end to rumor’s that gasoline supplies were running low. Due to the nation’s oil scarcity, the administration decided to modify fuel prices three days before the revision was supposed to take place on January 31.

Petrol stations all around the country stopped selling fuel on Saturday as a result of rumours that the price of gasoline and HSD will increase by up to Rs80 per litre. Rumors of a significant increase in oil prices for the upcoming two weeks led to stockpiling at gas stations and the artificial closure of more than 80% of gas stations in various parts of the nation.

According to a government source, the government computed the price of oil using oil prices up until October 27 and the average rupee conversion rate of Rs 236 per dollar.

The revised pricing are valid through February 15, 2023.

Fiscal restraint is necessary for the nation’s development and can only be achieved when democracy is stabilised, according to Finance Minister Ishaq Dar, who earlier made this statement at the conclusion of the two-day Bacha Khan Conference.

He stated that we need to stop depending on foreign help. He said that the late Bacha Khan had advocated for using native resources rather than ones that were imported.

Senator Yusuf Raza Gillani, a former prime minister and the head of the Pakistan People’s Party, had before urged adherence to the Constitution to uphold the rule of law and enhance democracy in the nation.

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In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

September 27, 2022 / By Zunair Tahir / Pakistan News

Due to a substantial reduction in POL rates in foreign markets, petroleum product prices are expected to drop by up to Rs 15 starting on October 1st, according to industry sources on Tuesday.

According to estimations made by specialists in the oil business, the price of diesel may drop by Rs. 15 and that of gasoline may drop by Rs. 5 during the course of the next two weeks.

POL costs are anticipated to decline starting on October 1.
The cost of diesel may decrease by Rs 15.
Prices for gas might be reduced by Rs5.

ALSO READ: Current Fuel Prices In Pakistan

They stated that the new price will be determined based on the price of oil on the global markets through September 29.

“The POL prices will drop if the government chooses to keep the fuel levy at the existing percentage,” they continued.

The government is required to charge a fee on petroleum products as part of an agreement with the International Monetary Fund (IMF).

The application of a petroleum levy on gasoline is now set at Rs37.50 per liter and on diesel at Rs7.50 per litre, according to a notification released on September 1.

ALSO READ: Pakistan Suzuki Unveils the Alto VXR AGS With ABS

On September 21, the government raised the price of gasoline from Rs235.98 to Rs237.43 while maintaining the price of High-Speed Diesel (HSD) at Rs247.43.

Kerosene’s price was cut by Rs. 8.30, from Rs. 210.32 to Rs. 202.02, while light diesel oil’s price was cut by Rs. 4.26, from Rs. 201.54 to Rs. 197.28.

Petroleum dealers are going on strike across the country starting today.

November 25, 2021 / By Zunair Tahir / Automotive News

KARACHI: The Pakistan Petroleum Dealers Association (PPDA) declared on Wednesday that they will go on a nationwide strike starting tomorrow (November 25) to protest what they describe “poor profit margins.”

According to PPDA Secretary Noman Butt, all petrol stations across the nation, including Gilgit-Baltistan and Azad Jammu and Kashmir, would close at 6 a.m. on Thursday for an extended duration.

Petrol stations across Pakistan will close from 6 a.m. on Thursday for an extended duration, according to dealers.
According to PPDA Secretary Noman Butt, “no government official has contacted us regarding our demands so yet.”
The secretary of the PPDA bemoans the fact that the government continues to reject their demands.

CAR PRICE IN PAKISTAN

He stated that the government has continued to reject their demands, and that they would not engage in negotiations with authorities unless their profit margins on petroleum product sales are enhanced by 6%.

Butt said that the administration had already assured the gasoline dealers that their demands would be satisfied, hence the strike had been called off.

“We called off the November 5 strike after getting assurances from the administration that our demands will be met,” Noman Butt stated.

The PPDA secretary responded to a query by saying that no government official had contacted them regarding their requests so far.

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From September 1, the Price of Petrol in Pakistan is likely to Drop

August 31, 2021 / By Zunair Tahir / Automotive News

The OGRA recommends that the Petroleum Division lower the price of fuel by Rs3.5.
Diesel costs Rs5, light diesel costs Rs 2, and kerosene costs Rs3.
Following talks with the Prime Minister, the Finance Ministry will make a final decision.

The price of petroleum products in the country is likely to drop starting September 1, according to reports, because the Oil and Gas Regulatory Authority (OGRA) has submitted the government a bi-monthly rate list.

According to reports, the OGRA has recommended that the Petroleum Division decrease the price of fuel by Rs3.5, diesel by Rs5, light diesel oil by Rs2, and kerosene oil by Rs3.

CAR PRICES IN PAKISTAN

However, after consulting with Prime Minister Imran Khan, the Ministry of Finance will make a final decision on the Petrol Prices.

The Pakistani government declared on August 15 that it will not raise the price of gasoline for the remainder of August, according to a notification issued in this respect.

The price of kerosene oil, on the other hand, had risen by Rs0.81 per liter, while the price of light diesel had risen by Rs1.10 per liter.

The new price of kerosene oil is Rs88.30 per liter, while light diesel is Rs85.77 per liter, according to the announcement.

Meanwhile, the notice stated that petrol prices remained steady at Rs119.80 per liter while the price of high-speed diesel remained unchanged at Rs116.53 per liter.

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Beginning August 1, the price of gasoline in Pakistan was increased by Rs1.71 per litre.

On Friday, Shahbaz Gill, the premier’s adviser on political communication, announced that the government has hiked the price of fuel by Rs1.71 per litre.

The decision was taken, according to Gill, based on the advice of the Oil and Gas Regulatory Authority (OGRA). As a result, from August 1, petrol would cost Rs119.80 a litre.

NEW GASOLINE PRICES

PRODUCT	OLD PRICE	NEW PRICE	INCR/DECR PRICE
HIGH SPED DIESEL (HSD)	116.53	116.53	+1.71
PETROL	118.09	119.80	0.00
KESOSENE OIL	87.14	87.75	+0.35
LIGHT DIESEL	84.67	84.67	0.00

NEW/OLD GASOLINE PRICE

According to him, it was agreed to keep the pricing of high-speed diesel unchanged since a rise in this product has a greater impact on the “ordinary man and farmers.” As a result, diesel would remain at Rs117.53 a litre.
Similarly, the price of light diesel oil has remained unchanged.
Meanwhile, from August 1, kerosene would be Rs0.35 more expensive per litre, costing Rs85.75 per litre.
It was rumoured that OGRA had proposed a fuel price rise of Rs1.71 per litre and a diesel price increase of Rs2.27 per litre.
It was also claimed that it suggested a Rs0.35 per litre increase in kerosene prices and a Rs0.24 increase in light diesel oil prices.

Any Relief For the People

According to a finance ministry statement, the government has been giving maximum comfort to customers by lowering the prices of petroleum goods since April 2021.

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The government has approved a Rs5.40 per liter rise in petrol prices.

July 15, 2021 / By Zunair Tahir / Automotive News

The price of high-speed diesel has risen by Rs2.54 per liter.
The price of kerosene oil has risen by Rs1.39 per liter, while light diesel oil has risen by Rs1.27.
The OGRA has suggested an increase in petrol prices of Rs11.40 per liter.

“Keeping the public interest in mind, Prime Minister [Imran Khan] went against OGRA’s suggestion and authorized a Rs5.40 rise in fuel price,” the special assistant added.

PRODUCT	OLD RATE	NEW RATE
Petrol	Rs112.69	118.09
High Speed Diesel	Rs113.99	116.53
Kerosene Oil	Rs85.75	87.14
Light Diesel Oil	Rs83.40	84.67

OLD & NEW PRICING

The federal government has authorized an increase in the price of fuel by Rs5.40 per liter, according to Shahbaz Gill, Special Assistant to the Prime Minister on Political Communication.

The Oil and Gas Regulatory Authority (OGRA) has proposed an increase in fuel prices of Rs11.40 per litre.
Gill went on to say that the government would now shoulder the cost because it had rejected OGRA’s recommendations in order to offer “maximum assistance to the people.”

Any Relief For the People

According to a finance ministry statement, the government has been giving maximum comfort to customers by lowering the prices of petroleum goods since April 2021.

It stated that, despite rising worldwide oil costs, the government decided not to transfer the whole expense of the increase on to consumers. The sales tax and fuel levy rates have been lowered to give maximum assistance to consumers. It went on to say that the Oil and Gas Regulatory Authority had proposed a Rs11.50/litre rise in fuel prices, but the prime minister only approved a Rs5.4/litre increase to offer maximum comfort to the population.

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Bad News !! Petrol Prices Increased Again By Government

July 16, 2021 / By Zunair Tahir / News Pakistan

Petrol prices have been raised by Rs5.40 for the next 15 days.
Because to the rise in international oil costs, the government claims it has no choice but to raise POL prices.
According to the Finance Ministry, the government is doing all possible to help the people.

PRODUCT	OLD RATE	NEW RATE
Petrol	Rs112.69	118.09
High Speed Diesel	Rs113.99	116.53
Kerosene Oil	Rs85.75	87.14
Light Diesel Oil	Rs83.40	84.67

OLD & NEW PRICING

ISLAMABAD: The price of fuel in Pakistan hit its highest level in history when the government issued a Rs5.40 per litre hike, bringing the new price to Rs118.9 per litre.

According to Petroleum Division authorities, the previous highest petrol price was PKR 117.83 per liter published on August 1, 2019. Because of the rise in crude oil prices in the international market, the government hiked the price of petrol by Rs5.40 per liter and of high-speed diesel (HSD) by Rs2.54 per liter for the next two weeks on Thursday.

2024 CAR PRICE IN PAKISTAN

Similarly, kerosene and light-diesel oil (LDO) prices have been raised by PKR 1.39 and PKR 1.27 per liter, respectively.

After the increase, petrol will sell at Rs118.09 per litre, diesel at Rs116.53, kerosene at Rs87.14 and LDO at Rs84.67.

The new prices will be effective from today.

‘No Relief’

Fawad Chaudhry, Minister of Information and Broadcasting, stated in a tweet that the government had “no option” but to raise the petrol price due to worldwide market pricing.

In terms of petrol pricing, he stated that it will cost Rs118 per litre in Pakistan,

Rs146 in Bhutan
Rs147 in Sri Lanka
Rs167 in Bangladesh
Rs172 in Nepal
Rs189 in China
Rs220 in India

Any Relief For the People

According to a finance ministry statement, the government has been giving maximum comfort to customers by lowering the prices of petroleum goods since April 2021.

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Government Permits ‘Sky High’ Increase In Gasoline Prices

Government Permits ‘Sky High’ Increase In Gasoline Prices

READ MORE NEWS…

In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

ALSO READ: Current Fuel Prices In Pakistan

ALSO READ: Pakistan Suzuki Unveils the Alto VXR AGS With ABS

READ MORE NEWS…

Petroleum dealers are going on strike across the country starting today.

Petroleum dealers are going on strike across the country starting today.

READ MORE

CAR PRICE IN PAKISTAN

READ MORE NEWS…

From September 1, the Price of Petrol in Pakistan is likely to Drop

From September 1, the Price of Petrol in Pakistan is likely to Drop

ALSO READ

CAR PRICES IN PAKISTAN

READ MORE NEWS…

Beginning August 1, the price of gasoline in Pakistan was increased by Rs1.71 per litre.

Beginning August 1, the price of gasoline in Pakistan was increased by Rs1.71 per litre.

NEW GASOLINE PRICES

Any Relief For the People

READ MORE NEWS…

The government has approved a Rs5.40 per liter rise in petrol prices.

The government has approved a Rs5.40 per liter rise in petrol prices.

Any Relief For the People

READ MORE NEWS…

Bad News !! Petrol Prices Increased Again By Government

Bad News !! Petrol Prices Increased Again By Government

ALSO READ

2024 CAR PRICE IN PAKISTAN

After the increase, petrol will sell at Rs118.09 per litre, diesel at Rs116.53, kerosene at Rs87.14 and LDO at Rs84.67.

The new prices will be effective from today.

‘No Relief’

Any Relief For the People

READ MORE NEWS…

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