According to the notification, Petrol prices in Pakistan will remain unchanged at Rs. 149.86 per litre, while the Price of High-Speed Diesel (HSD) in Pakistan will also remain at the current rate of Rs. 144.15 per litre. Meanwhile, the Price of Kerosene Oil will remain at Rs.125.56 per litre, while the Price of Light Diesel Oil (LDO) will remain at Rs. 5.66 per litre. Petrol Price in Pakistan 2023.
Finance Minister Ishaq Dar announced on Saturday that petrol and diesel prices would remain unchanged for the next fortnight — till January 15, 2023.
Petrol and diesel will be available at Rs214.80 per litre, and Rs227.80 per litre, respectively.
Dar, in a video address, revealed that the decision has been taken in line with Prime Minister Shehbaz Sharif’s desire to provide “maximum relief to the people”.
| Commodity | Existing prices w.e.f 16.12.2022 | New prices w.e.f 01.01.2023 |
| Petrol | Rs214.80 | Rs214.80 |
| Diesel | Rs227.80 | Rs227.80 |
| Kerosene oil | Rs171.83 | Rs171.83 |
| Light diesel oil | Rs169 | Rs169 |
Moreover, despite the Oil and Gas Regulatory Authority’s (OGRA) request to increase the price of kerosene oil by Rs8.76 per litre, the government decided to retain the price given the winter season.
The price of light diesel oil was also retained at Rs169 per litre.
The minister added that the government has ended the levy on kerosene oil and light diesel oil. He also claimed that the decision to retain was taken despite there being an “increase” in the prices of petroleum products in the global market.
“All these decisions have been taken in line with Prime Minister Shehbaz Sharif’s directions and the prices will remain intact till January 1, 2023,” the finance minister explained.
Here you can check the rate of all petroleum products in Pakistan including high octane, kerosene, Euro 5, light-speed diesel, and high-speed diesel. The word petroleum is a combination of two different words “petra” which means rock and “oleum” which means “oil”. However, petroleum from crude is extract from land or sea through the technique of distillation. Petroleum itself is made of crude oil, but in the crude form, it can have various types of solid, liquid and gaseous hydrocarbons.
History of Petroleum.
In 347 AD, China became the first country to produce and use petroleum. Canada’s first commercial became operational in 1858. However, in the early 20th century, Russia became a major producer of petroleum products. Now, most of the oil in our world is produce by three countries which are the United States, Russia and Saudi Arabia. However, 80% of the oil reserves are present in the Middle East, where most of the providers are in Qatar, Iraq, Kuwait, Saudi Arabia and the United Arab Emirates.
The Petrol Prices in Pakistan will remain unchanged from 16 March 2023 to 31 March 2023 on the directives of Prime Minister Imran Khan to provide relief to the general public amid the rising inflation rate in the country. In his address to the nation last month, the premier promised that price of petrol will remain stable until the next budget. Petrol Price in Pakistan 2023.
Different Types of Fuels?
Many types of fuels are available in the market such as:
Bhutan
Diesel
petrol
jet fuel
Kerosene
Liquefied Petroleum Gas (LPG)
The current month’s petrol price in Pakistan is Rs. 274.9, high-speed diesel rate is Rs. 290.07, Light Speed Diesel Rs. 282 rupees and kerosene rate of Rs. Is 284.19. According to the policy of the Government of Pakistan, the price of petrol in Pakistan is revised twice a month. But the price of petrol is reviewed after every 15 days in Pakistan. The current petrol price in Pakistan is effective from December 16, 2023. The petrol rate in Pakistan is applicable to all cities irrespective of cities or regions.
Petrol Price in Pakistan 2023
In Pakistan, the OGRA or the Oil and Gas Regulatory Authority is the sole authority to regulate prices throughout the country. Pakistan faced petrol price fluctuations in 2023. As rates are updated after every 15 days, it is expected that the price of petrol in Pakistan in 2023 will be higher than this year. On the other hand, there are also many factors that affect the rate. Economic conditions, global changes in oil and gas and political instability significantly affect prices.
“In line with the decision of the Prime Minister in the last fortnightly review, the petroleum prices to remain unchanged despite the abnormal increase in the international market.” said the notification by the Ministry of Finance. “Subsequently, to keep the prices at the existing level, Government will bear the additional burden of Rupees 30 billion for the fortnight (16-31 March 2023).” the notification added.