Petrol Prices May Drop by Rs. 30 In Pakistan

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Petroleum prices have been slumping in the international oil market for a long, but the incumbent government didn’t trickle down even a minor effect on inflation-stricken masses so far. And after the oil prices fell to $76 per barrel, the government decided to pass on the effect to the public.

As per media reports, prices of petroleum products may drop by Rs. 30 in the face of a continuous slump in oil prices in the global market. According to the sources of the petroleum division, petrol is being purchased at $76 to $77 per barrel. 

Levy charges on petrol are currently being charged at Rs 50 per liter, whilst sales tax on all petroleum products is still zero.

No Change in Petrol prices For Third Time In A Row

In his televised address, Minister of Finance and Revenue Senator Ishaq Dar stated that the government has decided not to change petrol and diesel prices. Meaning, prices will be retained at Rs. 224.80 and Rs. 235.30, respectively.

In contrast, the price of kerosene oil was reduced by Rs. 10 whilst, light diesel price observed a cut of Rs. 7.50. As per the minister statement, the prices were decreased, taking into account the havoc witnessed after the flood in lower-income areas. The revised prices were implemented from December 1, 2022.

It is related to mention that the government did not change petrol and diesel prices third time in a row. Where high POL prices have shattered the inflation-stricken-salaried-class, whooping diesel prices are hitting the agriculture and transport sector hard – directly trickling down the effect to the life of consumers.

Current Petrol Prices

Petrol currently costs Rs. 224.80/liter as its price has remain unchanged for last 45 days.

Meanwhile, the price of HSD was dropped by Rs. 12.13/liter, after which the new price is Rs. 235.30/liter.

What do you think about the imminent decrease in petrol prices? Tell us in the comment section.

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1 Comment
  1. Waqas says

    Why are the reasons ?
    1st China lockdown for Coronavirus decreqsing oil consumption, China is the biggest oil consummer in the world.
    2nd Pakistan will buy Oil from Russia at competitive price.

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