New petroleum product prices had to be implemented from tonight and people of Pakistan were expecting a relief in petroleum product prices, keeping in view the global oil price drop as well Pakistani Rupee (PKR) strengthening against United States Dollar (USD). However, Ishaq Dar, who is on tour of United States, in his tweet he has communicated that we are not changing the prices of petroleum products until 31 Oct, 2022. According to Ishaq Dar, Oil and Gas Regulatory Authority (OGRA) had recommended slight reduction in price of petrol and had recommended increase in price of other three petroleum products which include High Speed Diesel and Light Diesel as well. According to Ishaq Dar decision of no price change was […]
As the new month of October 2022 starts, Govt of Pakistan also got active and decided to pass on some benefit of reduction in global oil prices to the people of Pakistan. So following are the new prices of Petrol, Diesel and Kerosene oil. Petroleum Product New Price (Rs) Old Price (Rs) Difference (Rs) Petrol 224.80 237.43 -12.63 High Speed Diesel 235.30 247.43 -12.13 Kerosene Oil 191.83 202.02 -10.19 Light Diesel Oil 186.50 197.28 -10.78 New Petroleum Prices Effective From 1st Oct, 2022 People of Pakistan were eagerly waiting and expecting reduction in petroleum prices after the reduction in price of global Crude Oil prices. Some people including the Pakistan Muslim League Nawaz (PMLN) are attributing the reduction in petroleum […]
Recently many news sources and websites have reported that Government of Pakistan is considering deregulation of Petrol and Diesel prices. In fact the date that is set for deregulation is November 1, 2022. This will mean that Oil Marketing Companies (OMCs) like Shell, PSO, Total, Attock Petroleum and all others will be able to set Petroleum Product prices themselves. As for now Govt of Pakistan sets the prices of Petrol and High Speed Diesel etc. After prices are deregulated all OMCs including the Govt’s own Pakistan State Oil (PSO) will themselves set the petrol prices. Currently a Government owned Petroleum Regulatory Body called “Oil and Gas Regulatory Authority (OGRA)” sets the prices of major petroleum products specially Petrol and High […]
In response to the price change summery by Oil and Gas Regulatory Authority (OGRA), the finance ministry have made following changes to the prices of different petroleum items. Petrol price was decreased by Rs. 0.25 per litter, Diesel Price was decreased by Rs. 2.40, light speed Diesel price was decreased by Rs. 2.90 and kerosene oil price was decreased by Rs. 0.90 or 90 Paisas Per litter. Hence after all these changes the petroleum prices of December 2019 were set to figures as follows in Pakistani Rupees. Petrol: 113.99 Diesel: 125.1 Light Speed Diesel: 82.43 Kerosene Oil: 96.35 What do you feel about these recent petroleum price changes?, do not forget to share your thoughts in comment section below.
As per trend, last few months as well, the petroleum prices declined in international market. Pakistan’s Oil and Gas Regulatory Authority (OGRA) also recommended that Pakistan can reduce petrol and diesel prices by at least six rupees. Now OGRA is main authority which recommends the petroleum prices in Pakistan, so when it is say we can reduce price by 6 rupees or more, we absolutely have margin to do that. Normally, when OGRA decides a price and it goes to Prime Minister office for approval, it is accepted as it is. But this time our beloved PM Nawaz Sharif chose not to pass on the benefit to people of Pakistan, so instead of accepting the OGRA’s price reduction of 6 […]