Pakistan 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

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.

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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.

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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.


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Pakistan News

The Government Has Increased The Price Of Petroleum By PKR. 30

The Government Has Increased The Price Of Petroleum By PKR. 30

May 27, 2022 / By Zunair Tahir / Pakistan News


Miftah Ismail, the Finance Minister, stated on Thursday that the government has decided to raise the price of petroleum products by Rs. 30 per liter, effective at midnight.

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“From Friday, May 27, 2022, the government has decided to hike the costs of Petrol, High-Speed Diesel, Kerosene Oil, and Light Diesel Oil by Rs. 30 per liter. At 12 a.m., the new pricing will take effect. “The new price of petrol will be Rs. 179.86 per liter, and the new price of diesel will be Rs. 174.15 per liter,” the Finance Minister tweeted.

Prime Minister Shehbaz Sharif, according to the Finance Minister, made this difficult decision in the national interest. He stated that imposing such a burden on the general population is a difficult decision for the government to make.

Miftah stated that the decision was made in order to resurrect the International Monetary Fund’s $6 billion bailout package (IMF).

The rise comes only one day after the government and the IMF failed to reach a deal on a financial bailout due to the former’s unwillingness to reverse fuel and power subsidies, causing budget uncertainty for fiscal year 2022-23.


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According to a news statement from the Finance Division, sustaining current petroleum product prices at current subsidized rates is continually growing the government’s twin deficit while also creating significant dangers to the energy supply chain.

Oil Marketing Companies (OMCs) and refineries are having trouble acquiring international bank confirmation for LCs/SBLCs, local banks’ unwillingness to open LCs, and importers’ issues securing insurance coverage for particularly high-priced cargoes, according to the statement.

“The government has decided to adjust the present petroleum product pricing in order to rationalize petroleum product costs.” Prices for petroleum goods have been raised in part to make them affordable, according to the statement.

With a Rs. 30 per liter hike across the board, the new price of fuel will be Rs. 179.86 per liter, up from Rs. 149.86 per liter previously. High-speed diesel will now cost Rs. 174.15 per liter, up from Rs. 144.15 per liter previously. According to the Finance Division, the new price of kerosene will be Rs. 155.56 per liter, up from Rs. 125.56, and the new price of light diesel oil would be Rs. 148.31 per liter, up from Rs. 118.31 per liter.


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Automotive News

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

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

November 25, 2021 / By Zunair Tahir / News Pakistan

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.

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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.


Automotive 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

August 31, 2021 / By Zunair Tahir / News Pakistan

  • 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.


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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 litre, while the price of light diesel had risen by Rs1.10 per litre.

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 litre while the price of high-speed diesel remained unchanged at Rs116.53 per litre.


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Automotive 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.

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

PRODUCTOLD PRICENEW PRICEINCR/DECR PRICE
HIGH SPED DIESEL (HSD)116.53116.53+1.71
PETROL118.09119.800.00
KESOSENE OIL87.1487.75+0.35
LIGHT DIESEL84.6784.670.00
NEW/OLD GASOLINE PRICE

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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.

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.


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.

July 15, 2021 / By Zunair Tahir / News Pakistan

  • 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.

PRODUCTOLD RATENEW RATE
PetrolRs112.69118.09
High Speed DieselRs113.99116.53
Kerosene OilRs85.7587.14
Light Diesel OilRs83.4084.67
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.


Bad News !! Petrol Prices Increased Again By Government

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.

PRODUCTOLD RATENEW RATE
PetrolRs112.69118.09
High Speed DieselRs113.99116.53
Kerosene OilRs85.7587.14
Light Diesel OilRs83.4084.67
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.


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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.

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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