Diesel and Petrol Price in Pakistan| 01 February 2025
Petroleum Prices in Pakistan Today
| Petroleum Type | Old Price | New Price | Difference |
|---|---|---|---|
| Petrol | PKR 252.66 | PKR 256.13 | +3.47 |
| High Speed Diesel (HSD) | PKR 258.34 | PKR 260.95 | +2.61 |
| Light Diesel Oil (LDO) | PKR 151.73 | PKR 148.95 | -2.78 |
| Kerosene Oil | PKR 164.98 | PKR 161.66 | -3.32 |
Types of Petroleum in Pakistan
Petroleum, also known as crude oil, is an underground liquid that exists naturally. It is produced by the gradual decomposition over a long period of time of organic matter. This fossil fuel is essential because it undergoes refinement in specialized refineries. Some common types of petroleum include:
- Petrol (Super).
- High-speed diesel
- Light-speed diesel
- Kerosene
- Liquified petroleum gas (LPG)
- Compressed Natural Gas (CNG)
Let’s look at the latest prices for these different types. Each type will give the consumer the latest price.
Petrol (Super) Price in Pakistan
This type of petrol is known as super and has a higher octane number that delivers excellent engine performance. It is mainly used in cars and bikes. According to the latest updates, the petrol price in Pakistan is currently PKR 256.13.
High Speed Diesel Price in Pakistan
Diesel high-speed is used to power commercial vehicles, allowing them to reach speeds of up 7500 RPMs. It is ideal for heavy-duty vehicles, such as trucks and buses. According to the latest updates, the price for high-speed diesel is PKR 269.95 in Pakistan.
Light Speed Diesel Price in Pakistan
Medium-sized vehicles are usually operated by diesel at low speeds in Pakistan. These vehicles usually require more power than customized used vehicles. The price of light-speed diesel in Pakistan is Rs.148.95.
Kerosene Oil Price in Pakistan
Kerosene oil is in high demand across Pakistan’s petroleum industries. It is used to power small machines and equipment. The price of kerosene in Pakistan is PKR161.66.
LPG Price in Pakistan
Liquefied Natural Gas is imported into Pakistan. Liquefied Petroleum Gas is then derived from it. LPG serves dual purposes in Pakistan. It is used as both a vehicle fuel and a cooking gas. It also meets household needs for natural gas.
Compressed Natural Gas (CNG)
Compressed Natural Gas is a clean-burning fuel that is derived from natural gases, primarily methane. Compression is used to reduce the volume of the gas for storage and transport. It can typically reach pressures between 3,000 and 3,600 psi. CNG is less expensive than diesel fuel.
High Octane Petrol Price in Pakistan
Pakistan’s high-octane gasoline is among the most expensive in the world. This is due to its superior performance and quality.
Note OGRA doesn’t control the prices of Hi-Octane gasoline in Pakistan. The Hi-Octane price varies across different Petrol Pumps.
Highest Petrol Rate in Pakistan
The highest petrol prices in Pakistan’s past were Rs 331.38 a liter on 16 September 2023. It can also hover around the 230 mark when petroleum products are in demand worldwide, as they are at the moment.
Euro Fuel Emission Standards in Pakistan
Pakistan has adopted the Euro V emissions standards to improve our vehicle’s engine performance. This helps to create a more environmentally friendly environment for Pakistan’s next generations.
In 2012, Pakistan adopted Euro II emission standards, which were already outdated. Pakistan has now adopted Euro V standards for 2020, which were introduced in other countries in 2009. Many countries have been following Euro VI emission standards since 2014 and will switch to Euro VII around 2025.
Fuel and Petrol Prices – 2018 and Beyond
Oil prices fluctuate based on the value of Rupees on the international market. Due to the devaluation in Rupee in 2018, oil prices on the global market in Pakistan have also increased since 2018.
In 2021, Pakistan’s government tried to regulate petrol costs in the country by reducing the tax margin. The strategy was effective but only a temporary solution. These issues are common in developing countries such as Pakistan, which heavily rely on imported crude oil. This causes an increase in oil prices, making it difficult for consumers of petrol to purchase.
The Oil and Gas Regulatory Authority controls petrol prices in Pakistan. OGRA revises all fuel prices at least twice a year. The new prices are announced at the end of each month on the 15th day and remain in effect usually for 15 days.
Historical Background of Petrol Rate
In 1990, due to the later development of CNG, people only used fuel in their cars. People thought it was easy to fill up their cars. Since then, petrol prices have been steadily rising. Petrol prices peaked during the Zardari regime. Prices were very low at the end Nawaz Sharif’s regime. The government became instabile due to the interim constitution.
Reasons Behind Petrol Price Increase
The price of petroleum can increase or decrease significantly. This is a major concern for both consumers and the economy. The price of petrol fluctuates according to the rise and fall of petroleum prices worldwide.
In Pakistan, the demand for gas is driven by many factors, including transportation, energy production and economic growth. In Pakistan, taxes on gasoline are a major source of revenue. The price of petrol is increasing for many reasons. Here are some of them.
International Crude Oil Prices
The rise in petrol prices is largely due to the international crude oil price. Other factors, such as the economic conditions and supply and demand of goods, also influence them.
Exchange Rates
The exchange rate also affects the price of petrol as crude oil is priced in US dollars. Demand for local currency is directly proportional with the demand for US dollars. If the local currency depreciates then the petrol prices will automatically rise.
Taxes
To increase revenue, the government taxes petrol prices. Tax rates vary from one country to another.
Refining Cost
The cost of refining crude oil to petroleum is another factor that contributes to the increase in petrol price.
Distribution Cost
Fuel prices are directly affected by the distance between the retail source of fuel and the refinery. Transport costs are another major factor.
Can Petrol Prices Be Controlled?
The price of crude oil is one global factor that makes it difficult to control petrol prices. The Pakistani government could help by offering subsidies, and adjusting the impositions of taxes and levies. They should also stabilize imports of petroleum by reserving them.
The Organization of Petroleum Exporting Countries can manage petroleum supply with advances in oil extraction and refinement, which can reduce the overall cost. Complete control is not possible.
How Do Petrol Prices Affect The Economy?
Petrol prices can have a significant impact on the economy. They can also impact consumer spending or usage and have a significant impact on economic indicators such as inflation, employment and foreign trade.
Impact of Inflation
The price of gasoline has a direct effect on inflation. The price of petrol increases as the demand for it does. The rising cost of petroleum reduces the purchasing power of households.
Effect on Consumer Spending
The cost of petroleum products can impact consumer spending. It can strain drivers’ budgets and they may have to reduce their budgets.
Business Costs
Fuel is used by businesses as a means of transportation. The cost of products may increase as the number of businesses that require products increases. The cost of the product may increase as a result.
Energy Efficient Cars or Vehicles
The increased petrol prices have encouraged people to use public transportation, such as hybrids or electric cars. They may be able to save money on fuel in the long term.
Impact on Trade Balance
The trade balance of a country can influence its fuel imports. High fuel prices may increase the country’s debt due to increased import costs. It can also affect currency exchange rates.
