ISLAMABAD: The caretaker federal authorities Sunday determined to keep up the petrol worth at Rs267.34 per litre for the following fortnight — until January 15.
In a notification, the Finance Division mentioned: “The federal government of Pakistan has determined to keep up the present costs of petrol and excessive velocity diesel in the course of the fortnight ranging from 1st January, 2024, as really helpful by Oil and Gasoline Regulatory Authority (Ogra).”
| Merchandise | Current worth | New worth | Improve/Lower |
| Petrol | Rs267.34 | Rs267.34 | – |
| Excessive Pace Diesel (HSD) | Rs276.21 | Rs276.21 | – |
| Kerosene oil | Rs191.02 | Rs188.83 | -Rs2.19 |
| Gentle diesel oil | Rs164.64 | Rs165.75 | Rs1.11 |
After the revision, the value of Kerosene oil now stands at Rs188.83 after a discount of Rs2.19 per litre whereas Gentle Diesel Oil will likely be bought at Rs165.75 as the federal government has elevated the commodity’s worth by Rs1.11.
Earlier, oil sector specialists indicated that world crude costs did not expertise important fluctuations over the past fortnight, and the greenback fee stays basically unchanged from the earlier fortnight with a slight discount.
Pakistan depends closely on imported petroleum merchandise, with greater than 70% of its demand met by way of imports. The nation witnessed a 5.76% year-on-year improve within the petroleum group import invoice for November 2023. The invoice amounted to $1.32 billion, up from $1.25 billion in the identical interval final 12 months, indicating a gradual rise within the nation’s oil expenditure.
Petroleum merchandise accounted for 29.76% of the whole import invoice in November 2023.
The rise in petroleum product costs in the course of the first quarter of this fiscal 12 months led to a major drop in consumption. Nonetheless, the second quarter witnessed stabilisation and even decreases in petroleum product costs, which pushed up consumption in November this 12 months.