As you all know some cities of Pakistan have been facing severe petrol shortages since last week. According to the media and the politicians there are many reasons for that. Amongst them, the most understandable and digestible reason for this shortage is the mismanagement by the government, who is blaming the recent cut in fuel prices a reason for this mismanagement. According to some officials, due to lower fuel prices, people started consuming more fuel, resulting in a demand supply gap.
It is also learnt that the government is going to further decrease the fuel prices from February 1, 2015 to match the international level. After the upcoming decrease in fuel prices the price of petrol would reduce by Rs 8.75/liter, HOBC by Rs 11/liter, diesel by Rs 8.7/liter and kerosene oil by Rs 5.5/liter.
OGRA will send a summary to Prime Minister at the end of this month after calculating the prices of imported oil once the 3 ships carrying fuel dock at the port of Karachi.
The new petrol price would stand at Rs 69.75/liter, HOBC at Rs 81/liter, diesel at 78.23 and kerosene oil at Rs 66.40. This is going to be one of the drastic reduction in fuel prices and after this reduction that petrol would cost far cheaper than CNG.
The oil prices in the global market have been declining due to the Sheikh-Shale Oil War in the recent months, and Pakistan also got its due reduction in fuel prices because of that.
Keeping in view international prices , the prices should be reducef to 53-56.
Sorry reduced
I agree
agree with Zarak
Brother the price cut we got should be appreciated…do check fuel price in india whose economical conditions are much stable as compare to us.. Its around 65/ltr INR…
If have to compare India for fuel prices then compare in other areas too.
At least this government giving some relief. I remember when prices were dropped to $35 in 2008-09 but PPP government didn’t give any relief at that time. The reduction of fuel prices is historical.
Thanks for the heads up LamanSamo! Good news to my ears =)
In India the prices are still at 65 indian rupees which makes it about 100 pakistan rupees per litre. It should be 42 in india but the governments ‘save up’ money to fund other areas instead of giving 100% relief to public in one area i.e. petrol.
I am not a PML-N supporter but I must say this government is doing some good work and atleast reducing the prices. If it was PPP, that wouldn’t happen. Still a lot more to improve upon by PML-N