Search

Petrol price increased by Rs4.53, diesel Rs8.14 per litre in Pakistan

11:52 PM | 15 Apr, 2024
petrol price in Pakistan
Source: File photo

The Shehbaz Sharif-led Pakistani government on Monday increased the petrol price for the next fortnight by Rs4.53 per litre. 

A notification issued by the Finance Division late on Monday says the price of high-speed diesel (HSD) has been increased by Rs8.14 per litre to Rs290.38 per litre. The new fuel prices will be effective from April 16.

Moreover, the government has increased the price of kerosene oil by Rs6.69 to Rs193.8 per litre. Similarly, the rate of light diesel has been increased by Rs6.54 to Rs174.34 per litre.

The notification says, “The prices of Petroleum products have seen an increasing trend in the international market during the last fortnight. The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market.”

In the last fortnightly review, the federal government increased the price of petrol by Rs9.66 but it slashed the price of HSD by Rs3.32 per litre.

The government reviews fuel prices every 15 days and adjusts them based on the movements of global oil prices and the exchange rate of the local currency. Pakistan, which imports about 85% of its oil needs, has been grappling with a balance of payments crisis and soaring inflation.

The higher fuel prices will have a knock-on effect on the cost of living and transportation in the country, where the sale of petroleum products declined by 19% year-on-year in February.

The drop was mainly due to lower gasoline and diesel sales, as consumers cut back on their spending amid the economic slowdown. The government is charging Rs60 per litre petroleum development levy (PDL) on petrol and HSD each.

Daily Pakistan Global Web Desk

Advertisement

Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 22 May 2024

 Pakistani currency rates against US Dollar and other currencies on May 22, 2024 (Wednesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.15 for buying and 280.05 for selling.

Euro moved down to 297 for buying and 300 for selling while British Pound rate is 349 for buying, and 352.5 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 22 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.15 277.15
Euro EUR 297 300
UK Pound Sterling GBP 349 352.5
U.A.E Dirham AED 75.2 75.95
Saudi Riyal SAR 73.45 74.2
Australian Dollar AUD 183 184.8
Bahrain Dinar BHD 740.34 748.34
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.91
Danish Krone DKK 40.52 40.92
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 903.3 912.3
Malaysian Ringgit MYR 59.34 59.94
New Zealand Dollar NZD 170.11 172.11
Norwegians Krone NOK 25.92 26.22
Omani Riyal OMR 723.13 731.13
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.98 26.28
Swiss Franc CHF 305.97 308.47
Thai Bhat THB 7.67 7.82

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter