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More misery for the masses as petrol prices in Pakistan are likely to rise [Post Updated # 419]

Fuel prices poised for second fortnightly rise

For the second fortnight, the prices of major petroleum products — petrol and high-speed diesel (HSD) — are estimated to go up again about Rs4-5 per litre from Nov 16 for a fortnight owing to higher international prices and import premium on petrol.

Informed sources said the average prices of petrol and HSD increased in the international market by about $1.7 and $4.4 per barrel, respectively, in the last fortnight.

The import premium on petrol was up to almost $1 per barrel. Depending on final exchange rate calculation and existing tax rates, the prices of petrol and HSD are projected to increase by up to Rs4 and Rs5 per litre, respectively.

Officials said the average price of petrol increased in the international market to about $77.2 per barrel from $75.6. HSD price rose to $88 per barrel from about $83.6 in the last fortnight. During the current fortnight, the import premium on petrol increased to $9.80 per barrel from $8.8. It remained unchanged at $5 per barrel for HSD. The exchange rate also slightly moved against the rupee.

The ex-depot petrol price currently stands at Rs248.38 per litre while that of HSD is Rs255.14 per litre. On Oct 31, the government increased the prices of petrol and high-speed diesel by Rs3.85 and Rs1.35 per litre, respectively.

Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers and directly affects the budget of the middle- and lower-middle class.

Most of the transport sector runs on HSD. Its price is considered inflationary as it is primarily used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.

Currently, the government is charging about Rs76 per litre tax on petrol and HSD. Although the general sales tax (GST) is zero on all petroleum products, the government charges Rs60 per litre PDL on both products, which generally impacts the masses.

The government also charges about Rs16 per litre of customs duty on petrol and HSD, regardless of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are going to oil companies and their dealers.

On the other hand, it charges Rs50 per litre on light diesel, high octane blending component, and 95RON petrol used by the wealthy in luxury imported vehicles.

Petrol and HSD are the primary revenue spinners, with their monthly sales of about 700,000-800,000 tonnes compared to just 10,000-tonne demand for kerosene.

DAWN NEWS
 
Govt keeps petrol, diesel prices unchanged

The government on Friday kept the prices of petrol and High-Speed Diesel (HSD) unchanged for the next fortnight.

For the next 15 days, the prices of petrol and HSD will remain at Rs248.38, and Rs255.14 per litre, respectively, according to a Finance Division notification.


www.brecorder.com

Govt keeps petrol, diesel prices unchanged

- Prices of petrol and HSD to remain at Rs248.38, and Rs255.14 per litre, respectively
www.brecorder.com
 
Petrol price expected to increase

The federal government is expected to revise petrol and diesel prices in Pakistan during the upcoming fortnightly review for December 2024.

The new petroleum prices will be announced on the night of November 30, with the updated rates set to take effect from December 1 to 15, Express News reported.

According to reports, petrol price is expected to go up by PKR 3.15 per liter, diesel by PKR 3.20 per liter, and kerosene oil by PKR 4 per liter.


Petrol price expected to increase | The Express Tribune

Petrol prices are expected to increase by PKR 3.15 per liter, diesel by PKR 3.20 per liter
tribune.com.pk tribune.com.pk
 
Petrol, diesel prices may stay mostly unchanged

The prices of major petroleum products are estimated to remain mostly unchanged for the next fortnight ending December 15 owing to a negligible change in international prices and a minor gain in the exchange rate.

Informed sources said the average prices of petrol and high-speed diesel (HSD) had slightly increased in the international market in the last fortnight. Import premium on both petrol and diesel remained unchanged. The exchange rate moved slightly in favour of the rupee.

As a result, the latest calculations as of Nov 28 showed around Rs3 per litre increase in the prices of petrol, HSD and kerosene, despite a slight decline seen in international prices for the last two days of the month.

An Ogra official said the price difference was so close that it could be adjusted within the inland freight equalisation margin (IFEM) — a mechanism actually meant for uniform prices across the country. “In any case, the increase in prices is expected to be less than Rs3 per litre,” he said.

The ex-depot petrol price currently stands at Rs248.38 per litre while that of HSD at Rs255.14. For the current fortnight, the government had kept unchanged the prices of all petroleum products on Nov 15, although the prices of petrol and HSD increased by Rs3.85 and Rs1.35 per litre, respectively, on Oct 31.

Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and has a direct bearing on the budget of middle- and lower-middle class.

On the other hand, most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers, and particularly adds to the prices of vegetables and other eatables.

At present, the government is charging about Rs76 per litre tax on both petrol and HSD. Although general sales tax is zero on all the petroleum products, the government is charging Rs60 per litre petrol development levy (PDL) on both petrol and HSD that normally impact the masses.

The government is also charging about Rs16 per litre customs duty on petrol and HSD, irrespective of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are going to oil companies and their dealers.

On the other hand, it is charging Rs50 per litre on light diesel and high octane blending component and 95RON petrol used by the wealthy in luxury imported vehicles.

DAWN NEWS
 
Govt increases petrol, diesel prices for next fortnight

The finance ministry issued a notification revising petroleum product prices for the next fortnight, starting from December 1 (Sunday).

According to details, petrol became costlier by Rs3.72 per litre, setting the new price at Rs252.10 per litre. High-speed diesel (HSD) saw an increase of Rs3.29 per litre, bringing its new price to Rs258.43 per litre.

Conversely, kerosene became cheaper by Rs0.62 per litre, and the price of light diesel dropped by Rs0.48 per litre.

The notification detailed these adjustments in response to market fluctuations.

Earlier, Prime Minister Shehbaz Sharif-led government had decided to keep the petrol and diesel prices unchanged for the fortnight starting from November 16, 2024.

According to a notification issued by the finance ministry, the petrol price had remained stable at Rs248.38 per litre, while the price of high-speed diesel had remained unchanged at Rs255.14 per litre.

SOURCE: https://www.samaa.tv/2087324877-govt-increases-petrol-diesel-prices-for-next-fortnight
 
PSO board greenlights SPA execution with Azerbaijan’s SOCAR

The Pakistan State Oil’s (PSO) Board of Management (BoM) approved the execution of a Sale Purchase Agreement (SPA) with the State Oil Company of the Republic of Azerbaijan (SOCAR).

The PSO dispatched a letter to the Pakistan Stock Exchange (PSX), which includes information pertaining to an agreement.

“Kindly be informed that the Ministry of Energy (Petroleum Division), through its letter dated December 03, 2024, informed PSO of the Economic Coordination Committee (ECC)‘s approval of the SPA and the Federal Cabinet’s ratification of the ECC’s approval. The Ministry further advised PSO to make necessary arrangements for signing the SPA with SOCAR at the earliest,” the PSO’s letter read.

“PSO’s Board of Management recently approved the execution of the SPA between PSO and SOCAR and the signed agreement has been received from SOCAR on December 24, 2024.”

According to the PSO, the execution of the said agreement will take place in due course.

The Ministry of Energy (Petroleum Division) communicated with PSO in a letter dated December 3, 2024, regarding these endorsements and directed the company to initiate the signing process.

The letter further read that the agreement was signed after the approval by the Economic Cooperation Committee (ECC) on 24 December.

arynews.tv

PSO board greenlights SPA execution with Azerbaijan’s SOCAR

ISLAMABAD: The Pakistan State Oil's (PSO) Board of Management (BoM) approved the execution of a Sale Purchase Agreement (SPA) with the State Oil Company
arynews.tv arynews.tv
 
Petrol price increased for next fortnight

The federal government announced new petrol and diesel prices for the next fortnight, hiking the prices by Rs 7 per litre, ARY News reported.

As per a notification issued here, the price of petrol has been raised by Rs 1 per litre. The new price of petrol has been set at s. 257.13 per litre

Similarly, the price of high-speed diesel has been increased by Rs7 per litre. The new price for high-speed diesel is now Rs 267.95 per litre.

It is to be noted here that petroleum product prices are increased for the third consecutive fortnight as the same were hiked on January 1 and 16 too.


arynews.tv

Petrol price increased for next fortnight

ISLAMABAD: The federal government announced new petrol and diesel prices for the next fortnight, hiking the prices by Rs 7 per litre, ARY News reported.
arynews.tv arynews.tv
 
Latest: Petrol price in Pakistan may go up from March 1, 2025

Despite a nearly 3 per cent drop in global oil prices, the government is expected to increase petrol price for the upcoming fortnight, starting March 1.

Sources privy to the matter said the final estimate on February 28 suggests that the ex-depot price of petrol is likely to increase by Rs4 to Rs4.50 per liter.

However, the prices of high-speed diesel (HSD) and kerosene may see a minor decline of less than Rs1 per litre.

The proposed increase in petrol prices comes amid a slight uptick in international rates and a depreciation of the rupee against the US dollar. While benchmark Brent crude oil prices have remained relatively stable over the past ten days, exchange rate volatility has contributed to the anticipated hike in local fuel prices.

Current petrol, deisel prices in Pakistan

At present, ex-depot petrol is priced at Rs256.13 per litre, while HSD is available at Rs263.95 per litre. The official price of kerosene stands at Rs171.65 per litre, though it is being sold at Rs300 to Rs350 per litre in many areas due to supply constraints.

The government collects around Rs76 per litre in taxes on petrol and HSD, including a Petroleum Development Levy (PDL) of Rs60 per litre. While the General Sales Tax (GST) remains at zero, the authorities levy an additional customs duty of Rs16 per litre on both products, regardless of whether they are locally refined or imported.

In addition to government-imposed levies, oil companies and dealers charge a combined distribution and sales margin of Rs17 per litre on petrol and HSD. Meanwhile, light diesel oil and high-octane blending products are subject to a Rs50 per litre levy, with the same rate applied to 95-RON petrol, primarily used in luxury vehicles.

Impact on consumers

Petrol is a key fuel for private transport, small vehicles, motorcycles, and rickshaws, making it an essential commodity for middle and lower-middle-class consumers. Any increase in its price directly impacts household budgets, further burdening the masses already struggling with inflation.

Meanwhile, HSD plays a critical role in the transport and agriculture sectors, as it is widely used in trucks, buses, trains, tractors, tube wells, and threshers. A price hike in diesel often leads to higher transportation costs, escalating prices of essential commodities, including vegetables and other food items.

Global oil prices decline

According to a Reuters report, global oil prices declined by approximately 3 per cent to a two-month low in New York on Tuesday amid weak economic data from the United States and Germany, raising concerns over lower energy demand.

At 1:09 pm local time, Brent crude futures fell $1.99 (2.7%) to $72.79 per barrel, while US West Texas Intermediate (WTI) crude dropped $1.92 (2.7%) to $68.78 per barrel. Several indications from oil-producing nations suggest that production levels remain on track to increase, further impacting global oil prices.

SOURCE: https://www.samaa.tv/2087329526-?fb...RsEOPYx2-vh9sepcsM_aem_IS5hmxUa4tzpVD7Ds3ZOtQ
 
Petrol may see Rs14 per litre reduction

The prices of all petroleum products are estimated to fall by up to Rs14 per litre for the next fortnight, ending March 31, owing to fluctuation in the international market and import premiums.

This relief is, however, subject to unchanged tax rates. An official said there were considerations on the part of the government to absorb a part of the price cushion to increase petroleum levy or impose carbon tax for securing cheaper additional $1bn financing from the International Monetary Fund (IMF) for climate adaptation and mitigation.

Based on existing tax rates, the informed sources said the ex-depot price of petrol was estimated to go down by about Rs14 depending on the final calculation on March 15, followed by Rs8 per litre cut in high-speed diesel (HSD), Rs10 per litre in kerosene and light diesel by about Rs7 per litre.

The estimates for lower petrol prices stem from some decline in its international rates and import premiums. The benchmark Brent prices had decreased by about $3 per barrel during the last 10 days.

The ex-depot petrol price currently stands at Rs255.63 per litre and is estimated to drop to about Rs242. The current rate for HSD is Rs258.64 per litre, which will come down to about Rs250. Kerosene’s official rate is Rs168.12 per litre, but it is sold at Rs300-350 on the market. The price of light diesel oil is expected to be reduced to Rs146 in the next fortnight from Rs153.34.

Petrol is mainly used in private transport, small vehicles, rickshaws, and two-wheelers, and it directly affects the budget of the middle and lower middle classes. Most of the transport sector runs on HSD. Its price is considered inflationary as it is primarily used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.

The government charges about Rs76 per litre tax on petrol and high-speed diesel. Although the general sales tax (GST) is zero on all petroleum products, the government charges Rs60 per litre petroleum development levy (PDL) on both products, which normally impacts the masses. Under the law, the government has the cushion to increase PDL to a maximum of Rs70 per litre.

The government also charges about Rs16 per litre of customs duty on petrol and HSD, regardless of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are charged by oil companies and their dealers on both products.

DAWN NEWS
 

Govt announces petrol price cut by Rs1 per litre​

The federal government has announced a reduction in the price of petrol by Rs1 per litre, according to a notification issued by the Finance Division on Friday. As per the notification, the revised prices will take effect from March 29.

Following the decrease, the new price of petrol will be Rs254.63 per litre, down from the previous rate of Rs255.63. However, the price of High-Speed Diesel remains unchanged at Rs258.64 per litre.

The new prices, recommended by the Oil and Gas Regulatory Authority (OGRA), are based on fluctuations in international market rates.

OGRA assessed global market trends and submitted its recommendations for adjusting local petroleum product prices to provide relief to consumers, the Finance Division said in the statement.

Source: The Express Tribune
 
Petrol, diesel prices likely to drop by Rs10

The prices of petrol and diesel are estimated to fall by about Rs10 per litre for the next fortnight ending April 30 owing to a decline in global rates.

This relief is, however, subject to unchanged tax rates. An official said that there were also considerations on the part of the government to not let the petroleum prices decline substantially, which could trigger an increase in demand. Meanwhile, refineries are demanding that the government impose GST on petroleum products.

The government has also given an undertaking to the IMF to impose about Rs5 per litre of carbon levy as part of the $1.3 billion Resilience and Sustainability Facility, effective July 1.

Based on existing tax rates, the informed sources said the ex-depot price of petrol was estimated to go down by about Rs10 depending on the final calculation on April 15, followed by a Rs9 per litre cut in high-speed diesel (HSD).

The estimates for lower petrol prices stem from a decline of about $6 per barrel in the international price of petrol and about $5 per barrel in HSD over the past two weeks.

The ex-depot petrol price currently stands at Rs254.63 per litre. The ex-depot price of HSD stands at Rs258.64 per litre.

The government is currently charging about Rs86 per litre on both petrol and diesel. Although the general sales tax (GST) is zero on all petroleum products, the government is charging Rs70 per litre of petroleum development levy on petrol, diesel, and high-octane products that normally impact the masses.

The government also charges about Rs16 per litre for customs duty on petrol and HSD, irrespective of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are going to oil companies and their dealers.

DAWN NEWS
 
Fuel price relief ‘denied’ as govt raises levy to Rs803

Prime Minister Shehbaz Sharif’s government burnt the midnight oil to block about a Rs10 per litre reduction in major petroleum products — petrol and diesel — by amending the Petroleum Products (Petroleum Levy) Ordinance 1961.

Government officials said the government was already charging the maximum permissible petroleum levy on petrol, high-speed diesel (HSD) and high-octane blending component (HOBC) at Rs70 per litre, which is why a new law was required to keep the prices unchanged at the existing level.

This was done through an amendment to the petroleum levy law and an increase in the levy to Rs80 per litre. The government has decided not to let the petroleum prices decline further, which could trigger increased demand, encourage carbon emissions and cost higher foreign exchange.

In the global market, petrol and HSD prices have dropped by about $6 and $5 per barrel, respectively, over the past two weeks. The prime minister announced that funds raised through the increase in levy would be spent on road construction in Sindh and Balochistan, apparently to ensure political support from coalition partners.

The government has also given an undertaking to the IMF to impose about Rs5 per litre carbon levy as part of the $1.3bn Resilience and Sustainability Facility with effect from July 1.

Therefore, the ex-depot petrol price has been kept unchanged at Rs254.63 per litre. Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and directly impacts the budget of the middle and lower-middle classes.

The ex-depot price of high-speed diesel has been kept unchanged at Rs258.64 per litre.

The government is now charging about Rs96-97 per litre on petrol and diesel as taxes.

DAWN NEWS
 
Government reduces petrol prices for next fortnight

The government has announced a reduction in petrol prices, providing much-needed relief to the public, ARY NEWS reported.

According to reports, a notification has been issued confirming a decrease in the price of petrol by Rs 2 per litre.

The new petrol prices will now be Rs 252.63 per litre, down from the previous rate. Along with this, high-speed diesel prices have also been cut, with a decrease of Rs 2 per litre. The new price for high-speed diesel is Rs 256.64 per litre.

The reduction in petrol prices is expected to ease the burden on consumers amid rising fuel costs.

The government’s move comes as part of efforts to offer some relief to the masses struggling with high fuel expenses.

Petrol prices have been a point of concern for the public, but this latest price cut brings some optimism.


arynews.tv

Government reduces petrol prices for next fortnight

ISLAMABAD: The government has announced a reduction in petrol prices, providing much-needed relief to the public, ARY NEWS reported. According to reports,
arynews.tv arynews.tv
 
Petrol price rises by Re1 while LPG falls by Rs4.62

The Finance Division on Saturday night announced that the price of petrol would increase by Re1 per litre, while the prices of high-speed diesel (HSD) would remain the same.

This follows an earlier announcement by the Oil and Gas Regulatory Authority (Ogra) notifying the decrease of liquified petroleum gas prices by Rs4.62 per kilogram for the month of June.

According to a notification seen by Dawn.com, the finance divison stated that the new rates had been decided “based on the recommendations of Ogra and the relevant ministries”.

Petrol, which previously stood at Rs252.63 per litre, was increased to Rs253.63, the notification read.

Earlier, Ogra notified a decrease in the price of LPG by Rs4.62 per kilogram, or 1.88 per cent for June. The authority had announced a decrease of Rs3.20 per kg for May.

According to the notification issued by the authority today, the new price for an 11.8kg cylinder stood at Rs2,838.31 for June against Rs2,892.91 for May, making the cylinder cheaper by Rs54.6 per kg.

It added that consumers would now pay Rs240.53 per kg, with the price coming down from Rs245.16 in May.

According to a separate press release issued by the department, Ogra said that the LPG producer price was linked to Saudi Aramco-CP and the US dollar exchange rate.

As compared to the previous month, Saudi Aramco CP decreased by 2.67pc while the average dollar exchange rate slightly increased by 0.35pc, resulting in a decrease in LPG consumer price by Rs54.6 per 11.8kg cylinder.

The government introduced a landmark bill in the National Assembly aimed at digitally tracking petroleum products from import and production to retail sales in a bid to curb smuggling and adulteration, which cause massive revenue losses estimated at Rs300-500 billion annually besides affecting the environment and vehicle engines.

The Petroleum (Amendment) Act, 2025 — moved by Petroleum Minister Ali Pervaiz Malik — seeks to amend the 1934 Petroleum Act. The draft law envisages new clauses for information technology-based tracking of petroleum products to curb smuggling and to initiate strict actions against the illegal transportation and decantation of petroleum products, along with action against illegal petrol pumps.

In a separate development, eight units involved in the illegal sale of LPG cylinders were sealed and fined Rs5,000 earlier this month.

Source: The Express Tribune
 
Fuel prices set to rise as govt imposes carbon levy

In the Budget 2025-26, the government has imposed a carbon levy of Rs 2.5 per liter on petrol and diesel, a move expected to directly impact fuel prices, ARY News reported.

According to reports, furnace oil will be subjected to a carbon levy of Rs 2,665 per million tons, based on the same per-liter rate.

These new levies form part of the government’s strategy to increase regulatory control and promote environmental responsibility.

To curb smuggling in the fuel and transport sectors, a cargo tracking system is also set to be implemented, aiming to strengthen oversight and compliance mechanisms.

The introduction of the carbon levy on petroleum products under the Budget 2025-26 signals a likely rise in fuel costs, affecting both consumers and industries reliant on transportation and energy.

arynews.tv

Fuel prices set to rise as govt imposes carbon levy

ISLAMABAD: In the Budget 2025-26, the government has imposed a carbon levy of Rs 2.5 per liter on petrol and diesel, a move expected to directly impact
arynews.tv arynews.tv
 
Things will change significantly once Pakistan starts digging its own oil from the new found reserves.

Hopefully we can also import from you if the price is right.
 
Bhaijaan said:
Things will change significantly once Pakistan starts digging its own oil from the new found reserves.

Hopefully we can also import from you if the price is right.
Click to expand...
We have white oil for your country - with a daily production.
 
Pathetic government continues to enjoy lavish life while the poor people face the worst possible.

----------------------------------

Govt announces big increase in petrol, diesel prices

The federal government has increased the price of petrol by Rs8.36 per litre for the next fortnight, effective from Tuesday, July 1.

According to details, the new petrol price has been fixed at Rs266.79 per litre.

Meanwhile, the price of high-speed diesel has been hiked by Rs10.39 per litre, according to the government’s announcement, taking it to Rs277.98.

Sources say that a carbon levy of Rs2.50 per litre has also been imposed on petrol and diesel.

Earlier, on June 15, the federal government announced a major increase in the prices of petrol and diesel, effective from June 16 for the next fortnight.

According to a notification issued by the Ministry of Finance, the price of petrol was increased by Rs4.80 per litre, while the price of high-speed diesel went up by Rs7.95 per litre.

The price of high-speed diesel was set at Rs262.59, while petrol cost Rs258.43 following the last increase.

The Ministry of Finance has formally released the notification regarding the revised prices of petroleum products.

SAMAA
 
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