Latest petrol price in Pakistan from Jan 1

Finance Minister Ishaq Dar announced on Saturday that petrol and diesel prices would remain unchanged for the next fortnight — till January 15, 2023.

Petrol and diesel will be available at Rs214.80 per litre, and Rs227.80 per litre, respectively.

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".

Moreover, despite the Oil and Gas Regulatory Authority's (OGRA) request to increase the price of kerosene oil by Rs8.76 per litre, the government decided to retain the price given the winter season.

The price of light diesel oil was also retained at Rs169 per litre.

The minister added that the government has ended the levy on kerosene oil and light diesel oil. He also claimed that the decision to retain was taken despite there being an "increase" in the prices of petroleum products in the global market.

"All these decisions have been taken in line with Prime Minister Shehbaz Sharif's directions and the prices will remain intact till January 1, 2023," the finance minister explained.

It should be noted that since the start of the outgoing 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 government last slashed prices of petroleum products by up to Rs10 per litre on December 15.