Business

Latest petrol price in Pakistan from Dec 16

Petrol and diesel will now be available at Rs214.80 and Rs227.82 per litre, respectively, from Dec 16

By Saifur Rahman

December 15, 2022

Vehicles lined up at the Pakistan State Oil petrol pump in this undated photo. — Online/File

Finance Minister Ishaq Dar on Thursday announced slashing prices of petroleum products by up to Rs10 per litre for the next fortnight.

Petrol and diesel will now be available at Rs214.80 and Rs227.82 per litre, respectively, after a reduction of Rs10 and Rs7.5 per litre.

Dar, in a video address, revealed that the decision has been taken in line with Prime Minister Shehbaz Sharif's desire to provide "maximum relief to the people".

He further announced that after a decline of Rs10 per litre the price of kerosene oil and light diesel oil has been further reduced to Rs171.83 and Rs169 per litre, respectively.

Commodity	Existing prices w.e.f 01.12.2022	New prices w.e.f 16.12.2022	Increase/(-) Decrease (in rupees)
Petrol	Rs224.80	Rs214.80	-10.00
Diesel	Rs235.30	Rs227.80	-7.50
Kerosene oil	Rs181.83	Rs171.83	-10.00
Light diesel oil	Rs179	Rs169	-10.00

It should be noted that on November 30, while the government kept the price of petrol and diesel unchanged it slashed the price of kerosene oil and light diesel oil by Rs10 per litre and Rs7.5 per litre, respectively.

The finance czar mentioned that since the start of the ongoing quarter (October- December) of the fiscal year 2022-23, the prices have cumulatively declined by:

Rs22.63 per litre in petrol price
Rs19.63 per litre in the price of high-speed diesel
Rs28.28 per litre in the price of light diesel oil
Rs30.19 per litre in the price of kerosene oil

The decline comes amid a drop in international oil prices. As of December 15, Brent crude futures were down 33 cents or 0.4% at $82.37 a barrel by 1453 GMT and US crude futures lost 43 cents or 0.6% to $76.85.