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Diesel and Petrol Price in Pakistan Today

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Current Petrol Price in Pakistan is Rs. 259.10/Ltr, High Speed Diesel is Rs. 262.75/Ltr and Light Speed Diesel is Rs 154.05/Ltr

Petroleum Prices in Pakistan Today

Prices w.e.f 01-September-2024

Petroleum TypeOld PriceNew PriceDifference
PetrolPKR 260.96PKR 259.10-1.86
High Speed Diesel (HSD)PKR 266.07PKR 262.75-3.32
Light Diesel Oil (LDO)PKR 157.02PKR 154.05-2.97
Kerosene OilPKR 171.77PKR 169.62-2.15

Types of Petroleum in Pakistan

Petroleum, often known as crude oil, is a naturally occurring liquid that is found beneath the surface of the Earth. The slow, long-term breakdown of biological stuff is where it comes from. Because it is refined in specialized refineries, this fossil fuel is significant. Furthermore, the following are some typical petroleum types:

Super gasoline and high-speed diesel

lightweight diesel
kerosene
Compressed natural gas (CNG) and liquefied petroleum gas (LPG)
Let’s examine these various petroleum types’ most recent prices. Customers will receive the most recent price for each category.

Petrol (Super) Price in Pakistan

With a higher octane level that offers superior engine performance, this type of gasoline is also referred to as “super.” It is a major component in cars and bikes. As per the most recent data, petrol costs PKR 265.61 in Pakistan.

High Speed Diesel Price in Pakistan

High-speed diesel usually powers commercial vehicles and enables them to pass 7500 RPMs. It is the ideal choice for heavy-duty cars, trucks, and buses. Additionally, the price of high-speed diesel in Pakistan is PKR 277.45, according to the latest updates.

Light Speed Diesel Price in Pakistan

In Pakistan, light speed diesel rates are mostly used for medium-sized cars. Generally speaking, these cars require more power than customized used cars. In Pakistan, light-speed diesel is priced at Rs. 166.86.

Kerosene Oil Price in Pakistan

Throughout Pakistan’s petroleum industry, kerosene oil is highly sought for. Usually, it gives minor machinery and equipment power. In Pakistan, the cost of kerosene oil is PKR 186.86.

LPG Price in Pakistan

Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) are imported into Pakistan. LPG is used in Pakistan for two reasons. It is utilized as fuel for vehicles as well. It does, however, also satisfy the natural gas needs of the average home. As of December 1, 2023, the price of liquid petroleum in Pakistan is RS 254.86 per kilogram.

Compressed Natural Gas (CNG)

Compressed natural gas (CNG) is a clean-burning alternative fuel derived from natural gas, primarily composed of methane. It undergoes compression to reduce its volume for storage and transportation. It typically can reach pressures of 3,000 to 3,600 psi. CNG is cheaper than diesel fuel.

High Octane Price in Pakistan

Due to its better quality and performance benefits, Pakistan’s high octane gasoline commands a large price, making it one of the most expensive in the world.

Note: The price of high-octane gasoline in Pakistan is not regulated by OGRA. As a result, the cost of Hi-Octane differs at various gas pumps.

Highest Petrol Rate in Pakistan

On September 16, 2023, the price of gasoline reached its highest point in Pakistani history at Rs 331.38 per liter. But, it also sometimes hovers around the 230 mark when petroleum goods are in high demand all around the world, which is the case right now.

Euro Fuel Emission Standards in Pakistan

The Euro V emission regulations have been formally approved by Pakistan in an effort to enhance car engine performance. Additionally, this contributes to making Pakistan’s environment greener for upcoming generations.

In 2012, Pakistan implemented the Euro II Emission Standards, which were already out of date. Pakistan has decided to implement Euro V standards in 2020 instead of Euro III and IV, which were introduced in other nations in 2009. Since 2014, a number of nations have been adhering to the Euro VI Emission Standards; the transition to Euro VII is anticipated to occur in 2025.

Petrol Price: 2018 and Beyond

The value of the Rupee on the global market affects how much oil costs as well. Pakistan’s oil prices have gone up on the international market since 2018, when the Rupee depreciated.

By lowering the tax margin, the Pakistani government attempted to control gasoline prices throughout the nation in 2021. Though successful, the tactic was only a temporary fix. Problems such as these are typical of emerging nations such as Pakistan that heavily depend on imported oil. This causes the price of oil to rise and makes it more difficult for customers to purchase gasoline.

In Pakistan, the Oil and Gas Regulatory Authority (OGRA) sets the price of gasoline. Every two months, OGRA adjusts all fuel prices as part of its routine. The updated costs are ardeclared every month on the fifteenth and last day, and they typically stay in force for the following fifteen days.

Historical Background of Petrol Rate

Due to CNG’s subsequent development, people’s cars only utilized gasoline in 1990. The folks thought filling up cars with gas was simple. But since then, gas prices have been steadily rising. The highest of petrol costs occurred under the Zardari presidency. By the time the Nawaz Sharif government ended, the prices had dropped significantly. The government became unstable as a result of the temporary constitution.

In addition, gas costs haven’t changed since that period. Future and current oil prices are determined by the Oil and Regulatory Gas Authority (OGRA). There are multiple factors that can influence the price of petrol in Pakistan. It covers the nation’s economic situation, geopolitical issues, and government initiatives. But you can look at it over at PakWheels.com.

Reasons Behind Petrol Price Increase

The price of petroleum either dramatically rises or falls. One of the main issues facing the nation’s economy and customers is this. The price of gasoline varies in tandem with global increases and decreases in petroleum prices.

The need for gasoline is driven by a number of factors in Pakistan, including energy production, transportation, and economic expansion. Pakistan receives funding from the taxes imposed on gasoline. Conversely, there are other explanations for the rise in gas prices. They are listed below.

International Crude oil prices

One important reason for the increase in gas prices is the cost of crude oil internationally. They are also influenced by other factors, such as the state of the economy and the demand and supply for goods.

Exchange Rates

Since crude oil is priced in US dollars, exchange rates also affect the price of gasoline. Demand for local currency is directly proportionate to demand for US dollars relative to the local currency. Whenever the value of the local currency declines, the price of gasoline will inevitably rise.

Taxes

To raise more money overall, the government taxes the price of gasoline. Tax rates, however, differ from nation to nation.

Refining Cost

Another element driving up petrol costs is the refining cost of turning crude oil into petroleum.

Distribution Cost

Fuel prices are directly impacted by the distance between the refining company and the retail source. Another significant aspect is the expense of transportation using gasoline.

Can Petrol Prices Be Controlled?

It is difficult to keep gasoline costs under control because of several worldwide factors, such as the price of crude oil. The Pakistani government can assist by adjusting the tax and levies that are imposed and by providing subsidies. By setting aside some, they should also steady the import of petroleum.

With improvements in oil extraction and refining, the Organization of Petroleum Exporting Countries (OPEC) can control the supply of petroleum and lower its overall costs. Total control is not feasible, though.

How Do Petrol Prices Affect the Economy?

Petrol prices can impact the overall economy. They also affect consumer usage or spending and significantly impact economic indicators like inflation, employment, and foreign

Impact of Inflation

Inflation is directly impacted by gas prices. This is because both the expense of transportation and consumer demand for it are rising. The rising cost of fuel lowers the purchasing power of households.

Affect On Consumer Spending

Cost increases for petroleum products may have an impact on consumer expenditure. Drivers’ finances may be strained as a result, and they might have to make financial concessions.

Business Costs

Businesses consume fuel as a source of transportation. As the number of companies that need products increases, the cost of products can increase. As a result, the products may be passed on at higher costs to consumers.

Energy Efficient Cars Or Vehicles

People are using hybrid or electric cars or public transportation more often as a result of the rising cost of gasoline. In the long run, this might help them save money on fuel.

Impact On Trade Balance

Fuel imports can have an impact on a nation’s trade balance. Elevated gasoline costs have the potential to affect the import bill and raise the nation’s foreign debt. Exchange rates for currencies may also be impacted.

PKR 269.89
READ MORE :https://otcnewsmagazine.com/diesel-and-petrol-price-in-pakistan-today/

History of Petrol Prices in Pakistan

DatePetrol Price (PKR)
September 1, 2024259.10
Aug 14, 2024260.96
Aug 1, 2024269.43
July 15, 2024275.60
July 1, 2024265.61
June 15, 2024258.16
June 1, 2024268.36
May 15, 2024273.10
May 1, 2024288.49
April 16, 2024293.94
April 1, 2024289.41
March 16, 2024279.75
March 1, 2024279.75
February 16, 2024275.62
February 1, 2024272.89
January 16, 2024259.34
January 1, 2024267.34
December 16, 2023267.34
December 1, 2023281.34
November 16, 2023281.34
November 01, 2023283.38
October 16, 2023283.38
October 01, 2023323.38
September 16, 2023331.38
September 01, 2023305.36
August 16, 2023290.45
August 01, 2023272.95
July 16, 2023253.00
June 01, 2023262.00
May 16, 2023270.00
April 16, 2023282.00
March 16, 2023272.00
March 01, 2023267.00
February 16, 2023272.00
January 29, 2023249.80
December 16, 2022214.80
November 16, 2022224.48
November 01, 2022224.48
October 16, 2022224.48
October 01, 2022224.48
September 22, 2022237.43
September 01, 2022235.98
August 15, 2022233.91
August 01, 2022227.19
July 15, 2022230.34
July 01, 2022248.74
June 16, 2022233.89
June 03, 2022209.86
May 27, 2022179.86
March 01, 2022149.86
February 16, 2022159.86
January 16, 2022147.83
January 01, 2022144.82
December 16, 2021140.82
December 01, 2021145.82
November 16, 2021145.82
November 05, 2021145.82
November 01, 2021137.79
October 16, 2021137.79
October 01, 2021127.30
September 16, 2021123.30
September 01, 2021118.30
August 16, 2021119.80
August 01, 2021119.80
July 16, 2021118.08
July 01, 2021112.69
June 16, 2021110.69
June 01, 2021108.56
May 18, 2021108.56
May 01, 2021108.56
April 16, 2021108.56
April 01, 2021110.35
March 16, 2021111.90
March 01, 2021111.90
February 16, 2021111.90
February 01, 2021111.90
January 16, 2021109.20
January 01, 2021106.00
December 16,2020103.69
December 01,2020100.69
November 16,2020100.69
November 01,2020102.40
October 16,2020103.97
October 01,2020103.97
September 16,2020103.97
September 01,2020103.97
August 01,2020103.97
June 26,2020100.11
June 01,202074.52
May 01,202081.58
March 25,202096.58
March 01,2020111.59
February 01,2020116.60
January 01,2020116.60
December 01,2019113.99
November 01,2019114.24
October 01,2019113.24
September 01,2019113.24
August 01,2019117.83
July 01,2019112.68
June 01,2019112.68
May 05,2019108.42
May 01,201998.89
April 01,201998.89
March 01,201992.89
February 01,201990.38
January 01,201990.97
December 01,201895.83
November 01,201897.83
October 01,201892.83
September 01,201892.83
August 01,201895.24
July 08,201895.24
July 01,201899.50
June 12,201891.96
June 01,201887.70
May 01,201887.70
April 01,201886.00
March 01,201888.07
February 01,201884.51
January 01,201881.53
December 01,201777.47
November 01,201775.99
October 01,201773.50
September 01,201771.50
August 06,201769.50
August 01,201771.30
July 01,201771.30
June 01,201772.80
May 01,201774.00
April 01,201774.00
March 01,201773.00
February 16,201771.29
February 01,201770.29
January 16,201768.04
January 01,201766.27
December 01,201666.27
November 01,201664.27
October 01,201664.27
September 01,201664.27
August 01,201664.27
July 01,201664.27
June 01,201664.27
May 01,201664.27
April 01,201664.27
March 01,201662.77
February 01,201671.25
January 01,201676.25
December 01,201576.26
November 01,201576.26
October 01,201573.76
September 01,201573.76
August 01,201576.76
July 01,201577.79
June 01,201577.79
May 01,201574.29
April 01,201574.29
March 01,201570.29
February 01,201570.29
January 01,201578.28
December 01,201484.53
November 01,201494.19
October 01,2014103.62
September 01,2014106.56
August 01,2014107.97
July 01,2014107.97
June 01,2014107.97
May 01,2014107.97
April 01,2014108.31
March 01,2014110.03
February 01,2014112.76
January 01,2014112.76
December 01,2013112.76
November 01,2013112.76
October 01,2013113.24
September 01,2013109.13
August 01,2013104.50
July 09,2013101.77
June 21,201399.77
June 13,2013100.63
June 01,201399.77
May 01,201397.59
April 01,2013102.30
March 04,2013103.07
March 01,2013106.60
January 22,2013103.07
December 22,2012101.42
November 22,2012102.65
October 22,2012101.42
October 15,2012103.4
October 08,2012105.49
October 01,2012102.45
September 24,2012108.45
September 17,2012106.72
September 10,201299.90
September 01,2012104.55
August 23,201296.78
August 16,201293.57
August 01,201293.57
July 16,201285.90
July 01,201284.99
June 16,201289.51
June 01,201299.97
May 01,2012103.36
April 04,2012103.36
April 01,2012105.68
March 01,201297.66
February 01,201294.91
January 01,201289.54
December 01,201187.89
November 01,201187.41
October 01,201188.95
August 26,201184.80
August 01,201184.80
July 01,201183.71
June 01,201186.71
May 01,201188.41
April 01,201183.56
March 15,201176.58
March 01,201180.19
February 01,201172.96
January 07,201172.96
January 01,201179.67
December 01,201072.96
November 01,201072.96
October 22,2010101.08
October 01,201066.99
September 01,201067.26
August 01,201067.74
July 01,201067.95
June 01,201069.04
May 01,201075.08
April 01,201073.14
March 01,201070.57
February 01,201071.21
January 01,201065.11
December 01,200966
November 01,200961.63
October 01,200961.63
September 01,200965.26
August 01,200960.46
July 09,200962.13
July 08,200950.53
July 01,200962.13
June 01,200956.21
May 22,200956.21
May 01,200957.66
April 01,200957.66
March 01,200957.66
February 01,200957.66
January 01,200957.66
December 16,200857.66
December 01,200851.66
November 16,200866.66
November 01,200876.66
October 16,200881.66
October 01,200881.66
September 16,200881.66
September 01,200886.66
August 16,200886.66
August 01,200886.66
July 21,200886.66
July 01,200875.69
June 29,200875.69
June 22,200868.81
June 01,200868.81
May 16,200868.81
May 01,200868.81
April 18,200865.81
April 01,200862.81
March 16,200862.81
March 01,200858.70
February 16,200853.70
January 01,200853.70
December 16,200753.70
December 02,200753.70
November 16,200753.70
November 02,200753.70
October 16,200753.70
October 01,200753.70
September 16,200753.70
September 01,200753.70
August 25,200753.7
August 01,200753.70
July 16,200753.70
July 01,200751.70
June 16,200751.70
June 01,200751.70
May 16,200751.70
May 01,200751.70
April 16,200751.70
April 01,200751.70
January 16,200751.70
December 01,200655.55
November 16,200655.55
October 16,200655.55
September 16,200655.55
August 16,200655.55
July 16,200653.70
June 16,200655.55
June 01,200655.55
May 16,200655.55
May 01,200655.55
January 01,200662.13
PKR 259.34


 

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