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What will be the new Petrol Price in Pakistan from April 1?

10:05 AM | 30 Mar, 2024
What will be the new Petrol Price in Pakistan from April 1?
Source: File Photo

ISLAMABAD – The prices of petrol and diesel are likely to move up for the first half of April 2024 due to hike in international prices.

Reports in local media said Sharif-led government will raise petrol prices by up to Rs10 per litre from April 1, 2024, and the move will further impact the cost of living for masses.

The hike is said to be due to surge in the premium on petrol from $12.15 per barrel to $13.507 per barrel. With the expected hike, the petrol price is set to increase from Rs279.75 to Rs289.75 per litre.

Meanwhile, there is slight decrease of Rs1.30 per litre in the price of high-speed diesel (HSD), as the premium on HSD remains at $6.50 per barrel.

Kerosene oil and light diesel oil prices are expected to remain unchanged at Rs188.66/litre and Rs168.18/litre, respectively.

This increase in petroleum product prices is expected to happen without the proposed 18pc GST. However, if GST is applied, prices could increase by an additional Rs50/litre on petrol. Currently, the government imposes a petroleum levy of Rs60/litre, which is 21.4% of the current petrol price.

Government officials cleared that there are currently no plans to impose sales tax on petroleum, but estimated revenue from an 18% sales tax on petroleum products could range between Rs21 billion to 25 billion per month.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal 12 April

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 12, 2024.

US Dollar rate in Pakistan

On Friday, the US dollar was being quoted at 277.4 for buying and 280.65 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 12 April 2024

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