Govt Increases Price of Petrol Despite Dip in International Oil Prices

The government on Monday announced an increase in price of petrol despite a decrease in oil prices in the international market.

A notification issued by the Finance Division said that in the wake of fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices.

The price of petrol (MS) has been increased by Rs. 6.72 per liter, while the price of high-speed diesel (HSD) has been decreased by Rs. 0.51. The new price of petrol will be Rs. 233.91 while the new price of diesel will be Rs. 244.44.

The price of kerosene has been decreased by Rs. 1.67 per liter to Rs. 199.40, while the price of light diesel oil has been increased by Rs. 0.43 per liter to Rs. 191.75.  The new prices will be effective from August 16.

Product Existing Prices
New Prices
MS (Petrol) 227.19 233.91 +6.72
High-Speed Diesel (HSD) 244.95 244.44 -0.51
Kerosene (SKO) 201.07 199.40 -1.67
Light Diesel Oil 191.32 191.75 +0.43

At the last fortnightly review, the government decreased the price of petrol while jacking up the price of high-speed diesel (HSD).

International oil prices have hit near-year lows in recent days after surging to their highest level since 2008 earlier in the year. Brent crude fell below $95 today amid sluggish demand from China and reports that Western powerhouses and Iran may soon agree to a deal.

After multiple successive hikes, Prime Minister Shehbaz Sharif announced a reduction in prices of all petroleum products on July 14 to pass on the benefit of decreasing crude rates in the international market.

  • matlab agar Rupee Strong hoga tab bhi Pese Increase hongy.. jab girey ga tab bhi..
    International market me petrol key rate increase hon ya decrease dono conditions me Pakistan me rate increase hongy. fluctuation and variation ky naam per.

  • PM Shahbaz Makes big claims that he is servant of the public, but it is all a lie. Government should give benefits of a decrease in petroleum prices to the general public.

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