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Petrol Price in Pakistan Increased, Diesel Dips Down!

Petrol Price in Pakistan Increased, Diesel Dips Down!

We’ve got a mix of news for you today. On the bright side, the government’s handing out an early Eid gift by lowering the diesel price. A welcome surprise, right? But here’s the bad news—they’ve decided to jack up the petrol price in Pakistan. Not exactly the news many of us would like.

Petrol Price in Pakistan Today 2024

Diesel Price in Pakistan Today 2024

Now, why the sudden change? It all boils down to those rollercoaster global oil prices. They swing up, they swing down, and our fuel prices swing right along with them. So, here are the latest petroleum prices effective from April 1, 2024.

Petrol Price in Pakistan Today

ProductOld Price (Rs.)New Price (Rs.)Difference (Rs.)
Petrol279.75289.41+9.66
High Speed Diesel (HSD)285.56285.56-3.32
Kerosene Oil (KSO)191.02191.020
Light Diesel Oil164.64164.640

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

Petroleum Levy in Pakistan

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

ProductPL (Rs.)GST (Rs.)IFEM (Rs.)OMC (Rs.)DC (Rs.)Ex Refinery (Rs.)
Petrol6005.697.878.64177.14
High Speed Diesel6004.248.268.64195.23
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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Petrol Price in Pakistan: Analysis

Over the past 15 days, international petroleum prices, particularly the OPEC price per barrel, have been on the rise. Additionally, discussions have been circulating regarding a potential increase in the petroleum levy, possibly up to Rs.100 (currently Rs.60), along with the introduction of a GST (18%) on petroleum products, as recommended by the IMF. However, the current change in prices is primarily driven by the global surge in petroleum prices.

Furthermore, given the ongoing crisis in the Middle East, there’s a looming possibility of further escalation in global petroleum prices.

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

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4 responses to “Petrol Price in Pakistan Increased, Diesel Dips Down!”

  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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