Petrol Price in Pakistan Dropped Now By Rs. 10/L
Petrol Price in Pakistan: We have another great news for you, as the government has reduced fuel prices in Pakistan for the fourth time in a row. Now petrol costs Rs 10 less and diesel? Well, that’s about Rs 13.06 less. This decline is attributed to the drop in global oil prices. Let’s take a look at the latest petrol price in Pakistan and why it has gone down.
Here are the latest petroleum prices, effective September 16, 2024.
Petrol Price in Pakistan Today
| Product | Old Price (Rs.) | New Price (Rs.) | Difference (Rs.) |
| Petrol | 259.10 | 249.10 | -10 |
| High Speed Diesel (HSD) | 262.75 | 249.69 | -13.06 |
OGRA Notification
If you are wondering what the price per liter of petroleum products is in Pakistan, the following information will be helpful:
Petroleum Levy in Pakistan
This is the current (w.e.f. Sep 1, 2024) tax regime:
| Product | PL (Rs.) | GST (Rs.) | IFEM (Rs.) | OMC (Rs.) | DC (Rs.) | Ex Refinery (Rs.) |
| Petrol | 60 | 0 | 7.79 | 7.87 | 8.64 | 164.80 |
Glossary of Terms
- PL – Petroleum Levy or Petroleum Development Levy
- GST – General Sales Tax
- IFEM – Inland Freight Equalization Margin
- OMC – Oil Marketing Companies Margins
- DC – Dealers’ Commission
- Ex Refinery – Price per liter as sold by the refinery
Petrol Price in Pakistan: Analysis
This drop in prices is attributed to the drop in global oil prices. The government thus passed on the benefit to local consumers. If we see the OPEC basket price per barrel, it fell from $78.75 on August 30, 2024, to $72.42 on September 12, 2024.
Keep in mind that if the ongoing crisis in the Middle East worsens, there is a possibility of an escalation in global oil prices at any time, which may result in higher prices in Pakistan. Moreover, we can expect another hike when the government raises the oil tax from Rs 60 (current) to Rs 70 (as proposed in the 2024-25 budget).
If you have any thoughts on this, please share them in the comments below.
Also check: LPG Price in Pakistan Today