Pakistan decreases petrol, increases diesel and kerosene oil prices

ISLAMABAD – The government on Sunday announced a Rs3.05 per litre cut in the price of petrol for the first half of August.

According to a statement issued by the Finance Division, petrol will now be available for Rs227.19 per litre. Previously, petrol was being sold for Rs230.34 per litre.

On the contrary, there has been an increase of Rs8.95 per litre in the price of high-speed diesel and the new price will be Rs244.95 per litre.

Kerosene oil, which was previously available at Rs196.45 per litre, will now be sold for Rs201.07 per litre after an increase of Rs4.62.

Light diesel oil registered a slight decrease of 12 paisa, after which it will be sold at Rs191.32 per litre as against the previous rate of Rs191.44 per litre.

According to the notification, the changes were introduced following a reduction in the prices of petroleum products in the international market.

"Owing to the fluctuation in petroleum prices in the international market and exchange rate variations, the government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers," the statement read.

It added that the new prices will come into effect from August 1, 2022, and will remain in place until August 15.