Today’s Petrol Price in Pakistan Current Rates and Updates
Today petrol price in Pakistan for premium is Rs. 273.1, High speed diesel rate is Rs. 274.08, Light speed diesel Rs. 161.17 and Kerosene oil rate is Rs. 173.48. As per Government of Pakistan policy petrol rate in Pakistan is revised twice in a month.
Petroleum Type Old Price New Price Difference
Petrol
PKR 288.49 PKR 273.10 -15.39
High Speed Diesel (HSD)
PKR 281.96 PKR 274.08 -7.88
Light Diesel Oil (LDO)
PKR 166.86 PKR 166.86
Kerosene Oil
PKR 186.86 PKR 186.860
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Petrol price in Pakistan is reviewed
Petrol prices in Pakistan are updated every 15 days and are the same across all cities and regions. This includes rates for various petroleum products like high octane, kerosene oil, Euro 5, light-speed diesel, and high-speed diesel. “Petroleum” comes from “petra” meaning rock and “oleum” meaning oil. It’s extracted from land or sea through distillation. Petroleum consists of crude oil containing different types of solid, liquid, and gaseous hydrocarbons in its raw form.
Types of Petroleum in Pakistan
Petroleum, commonly called crude oil, is a naturally existing liquid beneath the Earth’s surface. It originates from the gradual decomposition of organic matter over an extended period. This fossil fuel is important as it undergoes refinement processes in specialized refineries. Moreover, some common types of petroleum are as follows
- Petrol (Super)
- High-speed diesel
- Light-speed diesel
- Kerosene
- Compressed Natural gas (CNG)
- Liquified petroleum gas (LPG)
Euro Fuel Standards in Pakistan
Pakistan has officially adopted the Euro V emission standards to improve the engine performance of our vehicles. This also helps create a greener environment for Pakistan’s future generations.
Previously, Pakistan adopted the Euro II Emission Standards in 2012, when Euro II was already outdated. Now, Pakistan has skipped Euro III and Euro IV to adopt Euro V standards in 2020 which was introduced in 2009 in other countries. Many countries have been following Euro VI Emission Standards since 2014 and would switch to Euro VII, which is expected around 2025.
Petrol Prices in 2018 and Beyond
Oil prices in Pakistan have been affected by the value of the Rupee in the global market since 2018. The Rupee’s devaluation led to higher oil prices worldwide, impacting Pakistan. To address this, the government reduced tax margins in 2021 to stabilize petrol prices temporarily. However, such measures are short-term fixes. Developing countries like Pakistan, reliant on imported oil, often face inflation in fuel prices, making it challenging for consumers.
The Oil and Gas Regulatory Authority (OGRA) oversees petrol rates in Pakistan, revising them twice a month. New prices are announced on the 15th and last day of each month and typically remain in effect for the next 15 days. This practice helps regulate petrol costs, providing some stability amidst market fluctuations.
Affected by Rising Petrol Prices
It is a vital time for Pakistan, experiencing rapid growth and monetary instability. The government has announced a new hike in petrol, diesel, light diesel, and kerosene oil prices in Pakistan up to Rs, 10 to 15 per litre. Petroleum prices are influenced by several factors, one of which is supply. OPEC’s reduced supply to other countries generates a rise in local prices as well. As retail merchants add their profit to the total cost of fuel, increased transportation and advertising costs significantly impact petroleum prices.
History of Petroleum
During 1990, people used only fuels in their cars due to the later evolution of CNG. The people considered it easy to top up their cars with fuel. However, the cost of petrol has been constantly rising since then. During the regime of Zardari, petrol prices were at their peak. The prices were considerably low at the end of the Nawaz Sharif regime. Due to the interim constitution, the government became unstable.
Furthermore, the prices of petrol remained constant since that time. The Oil and Regulatory Gas Authority (OGRA) sets oil prices today and in the future. The petrol price in Pakistan can vary depending upon several factors. It includes the economic condition of the country, geopolitical factors, and government policies. However, you can check it here on PakWheels.
