Latest Diesel And Petrol Prices In Pakistan 2024

Latest Diesel And Petrol Prices In Pakistan 2024

Currently, petrol price in Pakistan hits 279.75/Ltr, High-Speed Diesel at Rs. 287.33/Ltr, and Light-Speed Diesel Zooming at Rs. 166.86/Ltr.

Comparison Between The Old And New Prices:

Petrol prices in Pakistan accelerated from PKR 275.62/Ltr to PKR 279.75/Ltr. Similarly, High-Speed Diesel (HSD) accelerated from PKR 278.96 to PKR 287.33. Meanwhile, Light Diesel Oil (LDO) remains steady at PKR 166.86.

Various Types of Petroleum In Pakistan:

The other common name of petroleum is crude oil. Modern industry depends on it, fueling economies and driving progress on a global scale. It originates from the depth of the earth’s crust. It is formed over an extended period through the decomposition of organic matter.

Ancient marine organisms and terrestrial plants are transformed into hydrocarbon-rich deposits in sedimentary basins. As geological forces and heat acted on organic remains, vast reservoirs of crude oil were created beneath the Earth’s surface. Located in porous rock formations, these reservoirs provide the world with the essential energy and raw materials required for modern civilization’s advancement. Furthermore, there exists a variety of petroleum types, with some common ones outlined below.

– Petrol
– Kerosene
– High-Speed Diesel
– Light-Speed Diesel
– Compressed Natural Gas (CNG)
– Liquifies Petroleum Gas (LPG)

If you’re interested in knowing the updated prices of these petroleum types then read along. Every type will offer consumers the most recent pricing information.

The Updated Price of Petrol: 

The current petrol price in Pakistan today is PKR 279.75/Ltr in Pakistan. This type of petrol boasts a higher octane rating and delivers exceptional engine performance. It serves as the lifeblood of bikes and cars.

The Updated Price Of Kerosene Oil In Pakistan:

The latest price of kerosene oil is PKR 186.86. Kerosene oil is highly coveted in Pakistan’s petroleum sector. This oil is typically used to provide power to small machinery and equipment.

The updated Price Of High-Speed Diesel In Pakistan:

The price of high-speed diesel in Pakistan has increased by Rs 8.37 to PKR 287.33. High-speed diesel fuel typically fuels commercial vehicles. As a result, they can achieve and maintain 7500 revolutions per minute (RPMs) on their engines. 

It stands as the optimal selection for robust cars, buses, and trucks showcasing unparalleled performance.

The Updated Price Of Light-Speed Diesel In Pakistan

The current price of light-speed diesel is Rs. 166.86. The prices of this diesel usually affect medium-sized vehicles. In contrast to personal vehicles, these vehicles typically require more power.

The Updated Price Of Compressed Natural Gas (CNG) In Pakistan:

The current price of CNG is ranging between Rs. 210 to Rs. 221 per kilogram. CNG is much cheaper than diesel fuel. CNG is a cleaner alternative fuel derived from natural gas, mainly methane. It is compressed to decrease its volume for transportation and storage purposes. CNG can typically be compressed to pressures between 3,000 and 3,600 pounds per square inch psi.

The Updated LPG Price in Pakistan:

The price of Liquefied Petroleum Gas (LPG) is RS 254.86 per kg, effective December 1, 2023. 

Pakistan’s importation of Liquefied Natural Gas (LNG) serves as the source for deriving Liquefied Petroleum Gas (LPG). It is now commonly used for two main purposes such as fuel for vehicles and household requirements for natural gas.

Highest Petrol Rate In Pakistan:

The Petrol Price In Pakistan reached its record high at Rs 331.38 per liter in January 2023. However, sometimes the petrol price in Pakistan can reach around Rs 230 per liter when petroleum products are in high demand globally, which is the case these days.

Evolution Of Petrol Prices: From 2018 Onward

The oil prices fluctuate, according to the rupee value in the international market. Since 2018, the rupee devaluation has led to an increase in oil prices in the global market, affecting Pakistan also.

Then in 2021, the Pakistan government decreased the tax margin to regulate petrol prices in the country. This strategy was not a permanent solution, although it was effective. This is the biggest issue for the countries that highly rely on imported oil. The surge in oil prices complicates petrol purchases for consumers.

In Pakistan, petrol rates are regulated by the Oil and Gas Regulatory Authority (OGRA). The Oil and Gas Regulatory Authority (OGRA) announces fuel prices in Pakistan twice a month, on the 15th and the last day of each month, with the new rates remaining effective for the subsequent 15 days.

Petrol Price FAQs:

Q: What is the current petrol price in Pakistan today?
A: The current petrol price in Pakistan today is PKR 279.75/Ltr.

Q: What is the highest petrol price ever recorded in Pakistan?
A: The highest recorded petrol price in Pakistan was Rs 331.38 per liter, observed on 01-09-2023.

Q: How do petrol prices in Pakistan compare to neighboring countries?
A: As compared to other countries petrol prices can vary due to the up and down in taxes, transportation costs, subsidies, and domestic energy policies. The fluctuations in the global oil market have a great impact on the variations in prices between different regions. 

Q: Are petrol prices expected to increase in the near future?
A: Economic growth boosts oil demand, raising petrol prices. Government policy changes, like taxes, can also drive price hikes. In Pakistan, policy shifts could elevate petrol costs.

Q: What measures are being taken by the government to stabilize petrol prices and mitigate their impact on consumers?
A: Some strategies can stabilize petrol prices and lessen their impact on consumers. Subsidies on petrol to keep the petrol prices artificially low are commonly employed by governments. Additionally, price regulation mechanisms are implemented to prevent sudden spikes in prices, providing stability for consumers.

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