Govt keeps petrol price unchanged, reduces diesel and kerosene rates
The government announced on Sunday that the price of petrol will remain unchanged at Rs252.10 per litre for the next two weeks, while high-speed diesel (HSD) has been reduced by Rs3.50 per litre, bringing it down to Rs255.38 per litre.
In addition, the price of light diesel oil has been decreased by Rs2.78 per litre, reducing it from Rs151.73 to Rs148.95. Kerosene oil saw a reduction of Rs3.32 per litre, with the new price set at Rs161.66.
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Summary of latest prices:
| Product | Price (Rs/Litre) |
|---|---|
| Petrol | 252.10 |
| High-Speed Diesel (HSD) | 255.38 |
| Light Diesel Oil | 148.95 |
| Kerosene Oil | 161.66 |
This move follows last month’s hike, where petrol prices were raised by Rs3.72 per litre and HSD by Rs3.29 per litre. These adjustments are part of a government-approved pricing formula used to determine fuel rates in Pakistan, reflecting changes in international oil markets.
The international crude oil market has experienced fluctuations, with prices rising about 2% last Friday. Brent crude settled at $74.49 per barrel, while US West Texas Intermediate reached $71.29, driven by expectations of tightened supplies due to potential sanctions on Russia and Iran, alongside anticipated demand increases fueled by lower interest rates in Europe and the US.
In Pakistan, the fiscal budget included an increase in the maximum petroleum levy from Rs60 to Rs70 per litre, aiming to collect Rs1.28 trillion in revenue—significantly higher than the Rs1.019 trillion collected in the previous fiscal year.
The government has imposed taxes of approximately Rs78 per litre on petrol and HSD, along with Rs8 per litre in customs duties, regardless of local production or imports. Additionally, oil companies and dealers earn approximately Rs17 per litre in distribution and sale margins.
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