The petrol price in Pakistan has been reduced by the government on 31st May 2023. Finance Minister Ishaq Dar on Wednesday announced relief in the price of high-speed diesel and also the cost of petrol on 1st June. Under the revised prices, the cost of high-speed diesel in Pakistan will now be Rs. 253 per liter, after a reduction of Rs. 5 on the other hand the petrol price in Pakistan will now be Rs. 262 per liter after a reduction of Rs. 8. The price of light diesel oil (LDO) has also been cut by Rs. 5 per liter and the new price will be Rs. 147.68. These petroleum prices in Pakistan will remain effective till 31st June 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 reduce from 15th May 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.8 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 May 2023, the petrol price in Pakistan was reduced to Rs,.12 and it was Rs272 per liter. The government has decreased the price of petrol by Rs.12 per liter.
The petrol price in Pakistan has been reduced up to Rs. 8 from 1st June 2023. The new petrol price in Pakistan today is Rs.262 Per Liter.
On 15th May the federal government of Pakistan reduced the prices of petroleum products.
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.272.00 | Rs. 262.00 | Rs. 8 |
| High-Speed Diesel Fuel | Rs. 258.00 | Rs. 253.00 | Rs. 5 |
| Kerosene Oil | Rs.164.07 | Rs.164.07 | Rs. 0 |
| Light Diesel Fuel | Rs. 152.68 | Rs. 147.68 | Rs. 5 |
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.262 liter.
2.When petrol price will decrease in Pakistan?
A. Petrol price in Pakistan decreased on 1st June 2023 by Rs.8.
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