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Again! Petrol Price in Pakistan Decreased by 10.20 Rupees

Again! Petrol Price in Pakistan Decreased by 10.20 Rupees

Guess what? The government has reduced the fuel prices in Pakistan once again! Exactly the news many of us wanted to hear after the proposal of increasing petroleum levy. Now, petrol costs Rs. 10.20 less, and diesel? Well, that’s down by about Rs. 2.33. A decrease in the global petroleum prices is the major contributor to this reduction. Let’s see the latest petrol price in Pakistan and why it has gone down.

Petrol Price in Pakistan Today 2024

Diesel Price in Pakistan Today 2024

Here are the latest petroleum prices effective from June 16, 2024.

Petrol Price in Pakistan Today

ProductOld Price (Rs.)New Price (Rs.)Difference (Rs.)
Petrol268.36258.16-10.20
High Speed Diesel (HSD)270.22267.89-2.33

If you are interested in knowing what constitutes the per liter price of petroleum products in Pakistan, you’ll find the following information useful.

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Petroleum Levy in Pakistan

This is the current (w.e.f. Apr 16, 2024) tax regime:

ProductPL (Rs.)GST (Rs.)IFEM (Rs.)OMC (Rs.)DC (Rs.)Ex Refinery (Rs.)
Petrol6006.657.878.64210.68
High Speed Diesel6003.418.268.64210.07
Kerosene Oil
Light Diesel

Glossary of Terms

  • PL – Petroleum Levy or Petroleum Development Levy
  • GST – General Sales Tax
  • IFEM – Inland Freight Equalization Margin
  • OMC – Oil Marketing Companies Margins
  • DC – Dealers’ Commission
  • Ex Refinery – Price per liter as sold by the refinery

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The above mentioned petroleum price breakdown can vary. Stay tuned for the updated numbers.

Petrol Price in Pakistan: Analysis

Remember when we recently said that there is a chance of petrol prices going down because of the declining global petroleum prices? Well, it’s happening. The international petroleum prices have decreased by $3.75 & $2.7 per barrel for petrol & diesel respectively. Thus, the government has passed down the benefit to the local consumers.

Furthermore, if the ongoing crisis in the Middle East worsens, there’s a possibility of escalation in global petroleum prices at any time that may result in a price hike in Pakistan.

If you have got any thoughts on this, feel free to share them in the comments below. 

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4 responses to “Again! Petrol Price in Pakistan Decreased by 10.20 Rupees”

  1. We were so many expectations from this government but they failed
    Really now we are disappointed
    If they don’t do something for nation then next time people never will support this government

  2. The Pakistani public does not pay any kind of TAX willingly. They fail to understand that governments need revenue the run the country. So the Pakistani government collects revenue the only way it can. From utilities and fuel.
    Example; TV licence payment is included automatically in the electricity bill along with some other taxes.

  3. The Pakistani public does not pay any kind of TAX willingly. They fail to understand that governments need revenue the run the country. So the Pakistani government collects revenue the only way it can. From utilities and fuel.
    Example; TV licence payment is included automatically in the electricity bill along with some other taxes.

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