Guess what? The government has jacked up the fuel prices in Pakistan. Not exactly the news many wanted to hear. Now, petrol costs Rs.4.53 more, and diesel? Well, that’s up by about Rs.8.14. More trouble in the Middle East is the possible reason behind this price hike. Let’s see the latest petrol price in Pakistan and why it is going up.
Petrol Price in Pakistan Today 2024
Diesel Price in Pakistan Today 2024
Here are the latest petroleum prices effective from April 16, 2024.
Petrol Price in Pakistan Today
| Product | Old Price (Rs.) | New Price (Rs.) | Difference (Rs.) |
| Petrol | 289.41 | 293.84 | +4.53 |
| High Speed Diesel (HSD) | 285.56 | 290.38 | +8.14 |
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:
| Product | PL (Rs.) | GST (Rs.) | IFEM (Rs.) | OMC (Rs.) | DC (Rs.) | Ex Refinery (Rs.) |
| Petrol | 60 | 0 | 5.69 | 7.87 | 8.64 | 177.14 |
| High Speed Diesel | 60 | 0 | 4.24 | 8.26 | 8.64 | 195.23 |
| 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
Remember when we mentioned the chance of global petrol prices going up because of the ongoing mess in the Middle East? Well, it’s happening. The crisis over there has ramped up, pushing petroleum prices higher in the global market. The price per barrel in the OPEC basket has surged by about 5.5% in the last 15 days. But here’s something interesting: the increase in petrol and diesel prices in Pakistan isn’t as steep. It’s only gone up by about 1.5% for petrol and 2.8% for diesel. This means that the government hasn’t passed on the entire burden of the global price hike to the public here, which is actually good news for locals.
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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بیس روپے بڑھاو پانچ روپے کام کرو
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
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.
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.