Petroleum price in Pakistan
Petroleum pricce in Pakistan
Effective January 1, 2024, the petroleum prices in Pakistan have been revised. Here’s a detailed breakdown of the old and new prices for various types of petroleum:
| Petroleum Type | Old Price | New Price | Difference |
|---|---|---|---|
| Petrol | PKR 267.34 | PKR 267.34 | – |
| High Speed Diesel (HSD) | PKR 276.21 | PKR 276.21 | – |
| Light Diesel Oil (LDO) | PKR 164.64 | PKR 165.75 | 1.11 |
| Kerosene Oil | PKR 191.02 | PKR 188.83 | -2.19 |
Table of Contents
Types of Petroleum in Pakistan
Petroleum, commonly referred to as crude oil, is a naturally occurring liquid found beneath the Earth’s surface. It results from the gradual decomposition of organic matter over an extended period, serving as a crucial fossil fuel. Following specialized refinement processes in refineries, various types of petroleum emerge, including:
- Petrol (Super)
- High-speed diesel
- Light-speed diesel
- Kerosene
- Liquified petroleum gas (LPG)
- Compressed Natural gas (CNG)
Now, let’s delve into the updated prices for each petroleum type:
Petrol (Super) Price in Pakistan
Also known as super petrol, this variant boasts a higher octane rating, ensuring excellent engine performance. Predominantly used in bikes and cars, the latest price for petrol in Pakistan remains unchanged at PKR 267.34.
High Speed Diesel Price in Pakistan
High-speed diesel powers commercial vehicles, enabling them to exceed 7500 RPMs. Ideal for heavy-duty cars, trucks, and buses, the price of high-speed diesel in Pakistan remains steady at PKR 276.21, with a marginal decrease of Rs 13.50.
Light Speed Diesel Price in Pakistan
Designed for medium-sized vehicles requiring more power, light-speed diesel in Pakistan is now priced at RS 165.75, reflecting an increase of RS 1.11.
Kerosene Oil Price in Pakistan
Essential in petroleum industries, kerosene oil imparts power to small machines and equipment. The price has decreased to PKR 188.83, reflecting a reduction of Rs 2.19.
Compressed Natural Gas (CNG)
A clean-burning alternative derived from natural gas, CNG is primarily composed of methane. Cheaper than diesel fuel, it undergoes compression for storage and transportation.
High Octane Price in Pakistan
Commanding a significant price due to its superior quality and performance benefits, high octane petrol in Pakistan varies across different petrol pumps, as OGRA does not control its prices.
Highest Petrol Rate in Pakistan
In January 2024, Pakistan witnessed its highest petrol price at PKR 267.34 per liter. While it occasionally reaches around Rs 230 during periods of high global demand, fluctuations persist.
Euro Fuel Emission Standards in Pakistan
Adopting Euro V emission standards, Pakistan aims to enhance engine performance and create a greener environment. Having skipped Euro III and IV, the country now aligns with Euro V standards since 2020.
Petrol Price – 2018 and Beyond
Fluctuations in oil prices in Pakistan since 2018 correlate with the Rupee’s international market value. Government efforts in 2021 to regulate petrol prices via tax margin adjustments provided a short-term solution, addressing challenges faced by developing countries heavily reliant on imported oil.
Conclusion
From the 1990s, fuel usage in cars prevailed until the advent of CNG. Petrol prices have constantly risen since then, influenced by economic conditions, geopolitical factors, and government policies. The Oil and Gas Regulatory Authority (OGRA) revises fuel prices bi-monthly, with the latest rates announced on the 15th and last day of each month. For the latest updates, you can check Newsbluemoon.com.
