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Arab News
12 hours ago
- Business
- Arab News
Pakistan hikes petrol price by Rs1 per liter till next fortnight
ISLAMABAD: Pakistan's government has decided to increase the price of petrol by Rs1 per liter till the next fortnight as per the recommendations of the Oil and Gas Regulatory Authority (OGRA) and relevant ministries, the Finance Division announced recently. Petrol is primarily used in Pakistan for private transportation, including small vehicles, rickshaws and two-wheelers. Diesel, on the other hand, powers heavy vehicles used for transporting goods across the country. 'The government has decided the following prices of petroleum products for the fortnight starting tomorrow, based on the recommendations of OGRA and the relevant ministries,' the Finance Division said in a statement on Saturday. After the latest revision in prices, a liter of petrol will cost Rs253.63 while the government has kept the rate of diesel unchanged at Rs254.64 per liter. Fuel prices in Pakistan are reviewed and adjusted on a fortnightly basis. This mechanism ensures that changes in import costs are reflected in consumer prices, helping to sustain the country's fuel supply chain. The Finance Division kept the price of petrol unchanged and slashed the rate of high-speed diesel by Rs2 per liter during its last review on May 16. The new price of petrol has already taken effect.
Express Tribune
14 hours ago
- Business
- Express Tribune
Petrol price up by Re1, LPG down by Rs4.62/kg
Listen to article The federal government has raised the petrol price by Re1 for the next fortnight, while keeping the high-speed diesel rate unchanged. The new prices will be applicable from June 1. According to a notification issued by the Finance Department, petrol will now be sold at Rs253.63 per litre while high speed diesel (HSD) will continue to be sold at Rs254.64 per litre. The finance ministry said that the prices were based on recommendations from OGRA and other relevant ministries. The government is focusing more on collecting petroleum levy on petroleum products to redirect to subsidize electricity prices. It had earlier decided to fund Rs1.70 per unit subsidy for the consumers of electricity by redirecting PL collection. It also later decided to redirect PL collection to fund canal and road projects in Balochistan province. The government has already decided to increase the petroleum levy rate up to Rs90 per litre on the sale of oil products. At present, the consumers are paying Rs78 per litre in petroleum levy on petrol and Rs77 per litre on diesel. LPG The Oil and Gas Regulatory Authority (Ogra) has reduced the price of Liquefied Petroleum Gas (LPG) for June 2025 in response to fluctuations in the global market. According to an Ogra notification, the new consumer price of LPG has been set at Rs2,838.31 per 11.8 kg cylinder, down from Rs2,892.91 in May. This reflects a decrease of Rs54.60 per cylinder, or Rs4.62 per kilogram. The regulator attributed the price reduction to a 2.67% drop in the Saudi Aramco Contract Price (CP), which directly impacts local LPG producer rates. Additionally, a slight 0.35% increase in the average dollar exchange rate was recorded. For June, Ogra has set the revised producer price at Rs199,234.49 per ton, which stood at Rs203,861.82 in May - causing a decline of Rs4,627.33 per ton. Irfan Khokhar, Chairman of the All Pakistan LPG Distributors Association, welcomed the reduction in LPG prices and urged the government to ensure that the official price set by Ogra is strictly enforced.
Business Recorder
19 hours ago
- Business
- Business Recorder
Petrol price increased, diesel's unchanged
ISLAMABAD: The price of petrol has been increased by Rs 1.00 per litre to Rs 253.63, effective from June 1, 2025, as announced by the Finance Division on Saturday. However, the rate for high-speed diesel (HSD) will remain stable at Rs 254.64 per litre for the next two weeks. According to a late-night statement from the Finance Division, this adjustment follows the advice of the Oil and Gas Regulatory Authority (OGRA) and relevant government bodies. While the ex-refinery price of petrol is increased from Rs 151.80 to Rs 154.55 per litre, the government mitigated the full impact on consumers by significantly reducing the Inland Freight Equalization Margin (IFEM) from Rs 6.30 to Rs 4.55 per litre. The petroleum levy (PL) on both petrol (Rs 78.02 per litre) and HSD (Rs 77 per litre) remains unchanged. Additionally, the price of kerosene oil has seen a slight increase from Rs 250.14 to Rs 251.13 per litre. Copyright Business Recorder, 2025
Business Recorder
19 hours ago
- Business
- Business Recorder
Ogra slashes LPG prices for June
ISLAMABAD: In line with a decline in oil prices globally, the Oil and Gas Regulatory Authority (OGRA) has issued a notification for the reduction in LPG prices for June 2025. The OGRA has reduced the price of a domestic LPG cylinder by Rs55 and a commercial cylinder by Rs210. There has been a reduction of Rs3,921 per metric ton in the government's production price. LPG prices down by Rs6.15 per kg Now, LPG will be available at Rs241 per kg instead of Rs245 per kg, a domestic cylinder will be available at Rs2,838 instead of Rs2,893, and a commercial cylinder will be available at Rs,10,920 instead of Rs11,130. The LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate. As compared to previous month, Saudi Aramco-CP has decreased by 2.67 per cent. The average dollar exchange rate has slightly increased by 0.35 per cent resulting to decrease in LPG consumer price by Rs54.60/11.8 kg cylinder (1.88 per cent). The per kg decrease in LPG consumer price is Rs4.62. Copyright Business Recorder, 2025
Express Tribune
25-05-2025
- Business
- Express Tribune
Petroleum dealers threaten strike
Petroleum Division said that it had received an application from Mari Petroleum Company for approval of Declaration of Commerciality and Field Development Plan for Hilal and Iqbal discoveries. PHOTO: file The Pakistan Petroleum Dealers Association (PPDA) has rejected the proposed amendment to the Petroleum Act of 1934 that gives additional powers to the civil bureaucracy to monitor petroleum dealers and threatened a nationwide strike. PPDA Chairman Abdul Sami Khan on Saturday addressed a press conference at the Karachi Press Club alongside other officials, including association leader Malik Khuda Bakhsh. Khan said that the federal government's amendments to petroleum laws are unacceptable and that the association will adopt a strict stance against changes to the Petroleum Act of 1934. He said the amendments would grant additional powers to assistant commissioners (ACs) and deputy commissioners (DCs) rather than the regulator, the Oil and Gas Regulatory Authority (OGRA). "A meeting with the petroleum minister is scheduled for Monday, May 26, to discuss the proposed amendment. If our demands are not met during the meeting, we will proceed with a nationwide strike," he said. He acknowledged the need for legal changes to curb petroleum smuggling but expressed concern that fuel dealers would end up being unfairly targeted. "Despite assurances from the government, petroleum margins have not been increased for several years," he added. Malik Khuda Bakhsh said that under the proposed amendment to the Petroleum Act, ACs and DCs would have the authority to investigate any issues involving fuel stations. He said a fuel pump caught fire in the Shah Faisal area of Karachi and it was later discovered that the license had been issued by a DC. "This is an outdated law, and such powers should rest with a regulator like OGRA," he argued. Another association member, Raja Waseem, said that such extensive powers should not be handed to the bureaucracy. "Decisions made behind closed doors involve only oil marketing companies (OMCs), while we, the dealers, are excluded," he said.
