Latest news with #Rs256.13
Express Tribune
16-02-2025
- Business
- Express Tribune
Diesel price cut by Rs4, petrol by Re1
ISLAMABAD: The government on Saturday gave consumers a bit of a breather, slashing Rs4 per litre on high-speed diesel and Rs1 on petrol as global oil prices took a dip. The new prices – Rs256.13 per litre for petrol and Rs263.95 per litre for HSD – will take effect from February 16 (today). The Oil and Gas Regulatory Authority (OGRA) had recommended a revision in fuel prices based on fluctuations in the international oil market. HSD, a key fuel for transport and agriculture, is now priced at Rs263.95 per litre. The reduction may provide some relief by lowering the cost of goods transportation, potentially easing inflationary pressure on commodities. Meanwhile, petrol, primarily used in motorcycles and cars, saw a modest reduction of Rs1 per litre, bringing its new price to Rs256.13. It may be noted that petrol serves as an alternative to compressed natural gas (CNG), particularly in Punjab, where CNG stations have either switched to imported gas or shut down over the past few years. The price of kerosene oil, widely used for cooking in low-income households, especially in northern Pakistan, has been slashed by Rs3.20 per litre, bringing it to Rs171.65. With a decrease of Rs5.25 per litre, the new price of light diesel oil is calculated at Rs155.81 per litre. The recent reduction in prices of petroleum products is likely to provide much-needed relief to consumers in the wake of high inflation. Local fuel prices are calculated based on government-imposed taxes, IFEM costs, and exchange rate fluctuations. Data indicates that the petrol premium is currently set at $7.75 per barrel, paid on imported fuel. The oil industry recently imported three vessels of petrol. The government is currently levying a petroleum charge of Rs60 per litre on both petrol and HSD. Although the levy is intended for the development of the oil sector, including storage infrastructure, the funds are primarily being used to meet the government's current expenditures.
Express Tribune
15-02-2025
- Automotive
- Express Tribune
Government announces reduction in Petrol, Diesel prices
The government has announced a reduction in fuel prices, effective from February 16, 2025. High-speed diesel (HSD), which is widely used in agriculture and transport sectors, will see a price drop of Rs4 per litre. The new price for HSD will be Rs263.95, down from the previous rate of Rs267.95 per litre. In addition to HSD, the price of petrol has also been reduced by Rs1 per litre. The new petrol price will be Rs256.13, following a similar decrease in the second fortnight of February 2025. Furthermore, the prices for kerosene and light diesel have been lowered by up to Rs5 per litre. Kerosene will now be available at Rs171.65 per litre, while light diesel will cost Rs155.81 per litre. These price cuts come as part of the government's efforts to ease fuel costs for consumers, particularly in sectors reliant on diesel and kerosene.
Express Tribune
14-02-2025
- Business
- Express Tribune
Petrol price expected to drop in next review
Listen to article The Oil and Gas Regulatory Authority (OGRA) has submitted a summary to the federal government, proposing a reduction of Rs 2.49 in the price of petrol for the next 15 days.. The decision to lower the prices follows a decrease in crude oil prices in the international market, with the government aiming to provide relief to the public, Express News reported. If approved by the federal government, the price of petrol will be reduced from Rs 254.64 to Rs 257.13 per liter. Additionally, the price of high-speed diesel is set to drop by Rs 9.11, bringing the new price to Rs 258.84 per liter from Rs 267.85. The price of kerosene oil will be reduced by Rs 3.45 per liter, while light diesel will see a decrease of Rs 5.60 per liter. Earlier, the government announced a price hike for high-speed diesel (HSD) and petrol starting from February 1, 2025. HSD increased by Rs7 per litre, rising from Rs260.95 to Rs267.95. Petrol saw a Rs1 increase, going from Rs256.13 to Rs257.13 per litre.
