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Arab News
4 hours ago
- Business
- Arab News
Pakistan slashes petrol price by Rs7.54 per liter for next fortnight
KARACHI: Pakistan's government has slashed the price of petrol by Rs7.54 per liter for the next fortnight and increased the price of high-speed diesel (HSD) by Rs1.48 per liter, the Finance Division announced late Thursday. The revised prices of the petroleum products take effect from Aug. 1, the notification said. As per the new prices, petrol will now cost Rs264.61 per liter, down from Rs272.15 per liter. The price of a liter of HSD will now cost Rs285.83 per liter, up from Rs284.35 per liter. 'Following a review of prevailing international market trends and upon the recommendations of OGRA and relevant ministries, the government has revised the prices of petroleum products for the next fortnight,' the notification read. Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations and changes in domestic taxation. The increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food. The effect is further amplified by Pakistan's reliance on imported fuel. The latest reduction in fuel prices will provide much needed relief to the masses. On June 16, the government raised the price of petrol by Rs4.80 per liter and HSD by Rs7.95, which was followed by another hike on July 1, with the price of petrol raised by Rs8.36 and HSD by Rs10.39. Earlier this month, the government hiked the price of petrol by Rs5.36 per liter and diesel by Rs11.37 per liter for a third consecutive time. Fuel price volatility escalated in July during the 12-day conflict between Iran and Israel, when Pakistan instructed oil marketing companies to maintain mandatory reserve levels. While the government ruled out supply shortages, the conflict triggered concerns about a potential disruption in oil flows through the Strait of Hormuz.
Express Tribune
5 hours ago
- Automotive
- Express Tribune
Govt hits the brakes on fuel prices, cuts Rs8 a litre
Listen to article The government on Thursday slashed the price of petrol by Rs7.54 per litre while raising that of high-speed diesel (HSD) by Rs1.48 per litre for the next fortnight. The HSD price increase will come into effect from August 1, 2025. However, it has reduced the price of petrol for the next fortnight that will remain effective till August 15. The finance ministry in a statement said that the Government of Pakistan's Finance Division has announced new petroleum product prices that will be effective from August 1, 2025. It said that the price changes were determined after reviewing international market trends and considering recommendations from Oil and Gas Regulatory Authority (OGRA) and other relevant ministries. According to statement, the price of HSD has witnessed an increase of Rs1.48 per litre, bringing the new price to Rs285.83. The existing price was Rs284.35 per liter. The government has decreased the price of petrol by Rs7.54 per litre. The petrol will be available now at the new price of Rs264.61 per litre. The previous price was Rs272.15 per litre. These revised prices will be in effect for the next fortnight. Earlier, consumers had witnessed a massive increase in the prices of petroleum products as government had increased the price of HSD by Rs10.39 per litre effective from July 1, 2025. The high speed diesel is widely used in the agriculture and transport sectors. Therefore, fresh increase in its price will bring inflationary impact for the consumers. The farmers use this fuel for tractors whereas transport sector also use it. Therefore, the cost of transport goods would go up, resulting in higher inflation across the country. The government has also raised the price of petrol by Rs8.36 per litre from July 1. Petrol is used in motorbikes and cars and is considered to be an alternate of the compressed natural gas (CNG). The gas utilities had stopped supply of indigenous gas to the CNG stations especially in Punjab province and therefore, these CNG outlets had been using imported gas over a decade. The recent reduction in price of petrol is a big relief for the motorbikes and cars. Pakistan is a net importer of oil and import around 85 per cent of total petroleum products to meet the domestic needs. The local oil and gas exploration companies produce crude oil to meet 15 per cent of the total oil needs. Therefore, the fluctuation in global oil prices also impact the domestic oil prices. The consumers are also paying higher tax in form of petroleum levy on the petroleum are paying over Rs77 per litre petroleum levy on diesel and petrol. LPG Prices The Oil and Gas Regulatory Authority (OGRA) has also significantly reduced the price of Liquefied Petroleum Gas (LPG) for the month of August 2025 to provide relief to consumers amid ongoing inflationary pressures. According to the latest notification issued by the Authority, the regulator has set a new consumer price of LPG at Rs2,541.36 for an 11.8 kg domestic cylinder effective from August 1, 2025 with a reduction of Rs209.24 or 7.6 per cent compared to July's rate of Rs2,750.60. The producer LPG price has also been reduced from Rs191,802.01 per ton in July to Rs174,069.26 per ton in August, reflecting a similar decrease of Rs17,732.75. The decline translates to a Rs17.73 per kg reduction in LPG consumer price. OGRA stated that the price cut primarily results from a 9.8pc decline in the Saudi Aramco Contract Price (CP), which serves as a benchmark for local LPG pricing. Although the average exchange rate of the US dollar recorded a marginal increase of 0.38% during the same period, it was not enough to offset the downward trend in international LPG prices.
Business Recorder
6 hours ago
- Business
- Business Recorder
Petrol price cut by Rs7.54, HSD's up by Rs1.48
ISLAMABAD: Federal government announced Rs 1.48 per litre increase in high-speed diesel (HSD) prices, despite the premium on HSD remaining stable at $3.20 per barrel. However, there is a significant relief for petrol consumers as the ex-depot petrol price has reduced by Rs 7.54 per litre, driven by a decrease of approximately $3 per barrel in global prices. The decision has been taken in fortnightly review with effect from August 1, 2025. The new price of HSD has been increased from Rs 284.35 to Rs 285.83 per litre and petrol price has come down from Rs 272.15 to Rs 264.61 per litre. Finance Division stated, 'Following a review of prevailing international market trends and upon the recommendations of OGRA and relevant ministries, the government has revised the prices of petroleum products for the next fortnight'. In the previous fortnight, the price of petrol increased by Rs5.36 per litre, while the price of HSD rose by Rs11.37 per litre. Copyright Business Recorder, 2025
Express Tribune
13 hours ago
- Business
- Express Tribune
OGRA cuts LPG price by Rs17.74 per kg for August
Listen to article The Oil and Gas Regulatory Authority (OGRA) on Thursday announced a significant reduction in the price of Liquefied Petroleum Gas (LPG), issuing an official notification to this effect. According to the notification, the price of LPG has been reduced by Rs17.74 per kilogram, bringing relief to domestic consumers. The cost of an 11.8kg household cylinder has been slashed by Rs209.24. For the month of August, the new price of an LPG domestic cylinder has been set at Rs2,541.36, compared to Rs2,750.60 in July. OGRA stated that the per kilogram price of LPG has been revised down to Rs215.36 for August, compared to Rs233 per kg last month. The regulator said the price adjustment reflects international trends and is aimed at easing inflationary pressure on consumers, especially households relying on LPG for cooking and heating needs.
Arab News
16-07-2025
- Business
- Arab News
Pakistan hikes petrol price by Rs5.36, diesel by Rs11.37 per liter
KARACHI: Pakistan's government has increased the price of petrol by Rs5.36 per liter and high-speed diesel (HSD) by Rs11.37 per liter for the next fortnight, the Finance Division announced late Tuesday. The revised prices took effect from today, July 16. According to the official notification, petrol now costs Rs272.15 per liter, up from Rs266.79, while HSD has risen to Rs284.35 per liter from the previous Rs272.98. 'The Government has revised the prices of petroleum products for the fortnight starting tomorrow, based on the recommendation of OGRA [Oil and Gas Regulatory Authority] and the relevant Ministries,' the Finance Division said in its statement. Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations and changes in domestic taxation. The increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food. The effect is further amplified by Pakistan's reliance on imported fuel. This marks the third consecutive increase in fuel prices. On June 16, the government raised petrol by Rs4.80 per liter and HSD by Rs7.95. Another hike followed on July 1, with petrol up by Rs8.36 and HSD by Rs10.39. Fuel price volatility escalated last month during the 12-day conflict between Iran and Israel, when Pakistan instructed oil marketing companies to maintain mandatory reserve levels. While the government ruled out supply shortages, the conflict triggered concerns about a potential disruption in oil flows through the Strait of Hormuz.
