The petrol price in Pakistan has been reduced by the government on 15th May 2023. Finance Minister Ishaq Dar on Monday announced relief in the price of high-speed diesel and also the cost of petrol on 15th May. Under the revised prices, the cost of high-speed diesel in Pakistan will now be Rs. 258 per liter, after a reduction of Rs. 30 on the other hand the petrol price in Pakistan will now be Rs. 270 per liter after a reduction of Rs. 12. These petroleum prices in Pakistan will remain effective till 31st May, 2023.
Earlier the government of Pakistan decided to decrease the petrol price. The inflation-burdened nation will eventually get relief as petrol prices in Pakistan are likely to reduce from 1st May 2023. However, the final decision was taken in consultation with the Prime Minister on 30 April 2023.
According to media reports, the petrol price in Pakistan is likely to see a reduction of Rs. 100 per liter whereas the petrol Price in Pakistan sees a reduction of Rs.12 per liter.
Earlier, Finance Minister, Ishaq Dar, announced a massive hike, and the decision was made due to the rise in fuel prices in the international market caused by OPEC’s oil production cuts. He stated that the rising petroleum prices globally and second, PKR’s value against the US dollar.
On 15th April 2023, the current petrol price in Pakistan is Rs282 per liter. The government has increased the price of petrol by Rs.10 per liter.
The petrol price in Pakistan has been reduced up to Rs. 12 from 15th May 2023. The new petrol price in Pakistan today is Rs.270 Per Liter.
On 1st May the federal government of Pakistan reduced the prices of petroleum products. The media reports revealed that the petrol price in Pakistan remained the same till 15th May.
Earlier, Finance Minister Ishaq Dar announced a massive hike in the price of petroleum products in Pakistan due to the rise in fuel prices in the international market caused by OPEC’s oil production cuts and it will now be sold at Rs. 282 per liter.
The federal government implemented the final decision regarding the increase in the petrol price and the prices of other petroleum products in Pakistan.
The prices of petroleum products in Pakistan are as follows according to a notification issued by the Finance Division:
| Products | Current Prices (Rs/ltr) | New Prices (Rs/ltr) | Price Increase (Rs/ltr) |
| Petrol | Rs.282.00 | Rs. 270.00 | Rs. 12 |
| High-Speed Diesel Fuel | Rs. 288.00 | Rs. 258.00 | Rs. 30 |
| Kerosene Oil | Rs. 176.07 | Rs.164.07 | Rs. 12 |
| Light Diesel Fuel | Rs. 164.68 | Rs. 152.68 | Rs. 12 |
Ex-Finance Minister Miftah Ismail earlier revealed that despite the hike in the Petrol Prices in Pakistan, the Government was still bearing a loss on these commodities.
After the establishment of the new government under the leadership of Prime Minister Shehbaz Sharif you may expect a further increase in Petroleum Products’ prices because Pakistan and the IMF could not reach a staff-level agreement a day earlier after the Fund said there were deviations from the policies that were agreed between both sides.
Faqs:
1. What is Petrol Price in Pakistan Today?
A. The petrol price in Pakistan today is Rs.270 liter.
2.When petrol price will decrease in Pakistan?
A. Petrol price in Pakistan decreased on 15th May 2023 by Rs.12.
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