Latest news with #Rs256.64
Business Recorder
15-05-2025
- Automotive
- Business Recorder
Rs2 cut in HSD price, petrol rate unchanged
KARACHI: The federal government on Thursday decided to keep the price of petrol unchanged at Rs252.63 per litre for the next fortnight, despite a decline in international petroleum rates. The move comes as part of a decision to transfer the potential consumer relief to oil refineries, marketing companies, and dealers instead. However, the price of High-Speed Diesel (HSD) has been reduced by Rs2, bringing it down from Rs256.64 to Rs254.64 per litre, according to a notification issued by the Finance Division. The new prices are effective from May 16, 2025. The decision was made on the recommendation of OGRA and relevant ministries. Copyright Business Recorder, 2025
Express Tribune
15-05-2025
- Automotive
- Express Tribune
Govt keeps petrol price unchanged, HSD reduced by Rs2 per litre
The federal government on Thursday decided to keep the price of petrol unchanged at Rs252.63 per litre for the next fortnight, despite a decline in international petroleum rates. The move comes as part of a decision to transfer the potential consumer relief to oil refineries, marketing companies, and dealers instead. However, the price of High-Speed Diesel (HSD) has been reduced by Rs2, bringing it down from Rs256.64 to Rs254.64 per litre, according to a notification issued by the Finance Division. The new prices are effective from May 16, 2025. The decision was made on the recommendation of OGRA and relevant ministries.
Arab News
01-05-2025
- Business
- Arab News
Pakistan slashes petrol, diesel prices by Rs2 per liter till next fortnight
ISLAMABAD: The Pakistani government has reduced the price of petrol and high-speed diesel by Rs2 per liter each for the next fortnight, state media reported on Thursday. 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 latest price reductions were undertaken due to the fluctuations in global oil prices. After the latest revision, a liter of petrol will now cost Rs252.63 while high-speed diesel will be sold at Rs256.64 per liter, according to a notification from the Ministry of Finance. 'The government has reduced prices of petroleum products for next fortnight,' Radio Pakistan said. 'New prices are effective from today (Thursday).' 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. Pakistan significantly increased fuel prices after securing a short-term, $3 billion loan from the International Monetary Fund (IMF) in 2023. The rising rates also led to spiraling inflation in the country, though the government started offering relief to the people by gradually bringing down the petroleum prices subsequently. Since then the government has undertaken financial reforms and registered some economic gains in its quest to ensure Pakistan achieves sustainable economic growth.
Express Tribune
30-04-2025
- Business
- Express Tribune
Petrol, HSD prices cut by Rs2 per litre
The federal government on Wednesday slashed the price of petroleum products by Rs2 per litre for the next fortnight. The new prices will be applicable from May 1. According to a notification issued by the Finance Department, The government has decided to revise the prices of petroleum products for the forthcoming fortnight, based on the recommendations of OGRA & the relevant ministries. As per notification, the petrol will be sold at Rs252.63 per litre after the cut of Rs2 per litre. Similarly, the High Speed Diesel (HSD) will be traded at Rs256.64 per litre with the decline of Rs2 per litre. Prior to the revision, the petrol was being sold at Rs254.63 per litre and the HSD at Rs258.64 per litre. The Finance Division notification did not mention the price of kerosene oil and light diesel oil. Interestingly, the government kept the oil prices unchanged for the last fortnight despite a major price decline in the international market. The consumers were expecting around Rs8 per litre relief but the government dampened their hopes and decided to fund Balcohistan development projects with the oil proceeds. In the mid of April, a presidential ordinance was issued empowering the federal government to increase the Petroleum Development Levy (PDL) on the petroleum products at will and removed the maximum ceiling that had capped it to Rs70 per litre. The ordinance abolished the Fifth Schedule for the levy on petroleum products, which authorised the government to impose any levy at any rate. The ordinance came as the government increased the PDL on petroleum products, instead of reducing the oil prices following reduction in the global market. High speed diesel is widely used in the transport and agriculture sectors. Therefore, fluctuation in its price also contributes to the inflationary in the country. Petrol is used in motorcars and bikes and its demand had increased mainly due to use of imported gas in CNG stations in Punjab province.
Express Tribune
30-04-2025
- Business
- Express Tribune
Govt cuts petrol, diesel prices by Rs2 per litre
Listen to article The federal government on Wednesday announced a reduction in petroleum product prices, lowering petrol and diesel rates by Rs2 per litre. A formal notification has been issued by the Ministry of Finance. According to the notification, the price of petrol has been reduced from Rs254.63 to Rs252.63 per litre. Meanwhile, high-speed diesel will now cost Rs256.64 per litre, down from Rs258.64. The new prices will come into effect at midnight and will remain applicable for the next fifteen days as part of the government's regular fortnightly review. The price adjustment follows changes in international oil rates and is aimed at providing relief to consumers amid inflationary pressures.
