Prime Minister Shehbaz approves petrol price cut by Rs6.17 high-speed diesel by Rs10.86
Government of Pakistan Adjusts Petroleum Product Prices Effective from August 1, 2024
Prime Minister Shehbaz approves petrol price cut by Rs6.17 high-speed diesel by Rs10.86Â has announced a reduction in the prices of petroleum products, effective August 1, 2024. This adjustment is part of the government’s efforts to align domestic fuel prices with fluctuations in the international market and exchange rates over the past fortnight. The new prices have been calculated by the Oil and Gas Regulatory Authority (OGRA) and approved by the Ministry of Energy (Petroleum Division) and the Finance Division.
New Petroleum Prices
The new prices reflect significant decreases across various petroleum products, as follows:
- High Speed Diesel (HSD):
- Previous Price: Rs. 283.63 per litre
- New Price: Rs. 272.77 per litre
- Reduction: Rs. 10.86 (3.83%)
- MS (Petrol):
- Previous Price: Rs. 275.60 per litre
- New Price: Rs. 269.43 per litre
- Reduction: Rs. 6.17 (2.24%)
- Kerosene (SKO):
- Previous Price: Rs. 183.71 per litre
- New Price: Rs. 177.39 per litre
- Reduction: Rs. 6.32 (3.44%)
- Light Diesel Oil (LDO):
- Previous Price: Rs. 166.25 per litre
- New Price: Rs. 160.53 per litre
- Reduction: Rs. 5.72 (3.44%)
Government’s Commitment
This price adjustment underscores the government’s commitment to aligning domestic petroleum prices with international trends, ensuring fair pricing for consumers while considering the broader economic implications. The Ministry of Energy (Petroleum Division) and OGRA remain vigilant in monitoring global market conditions to provide timely updates and necessary adjustments.
Conclusion
The Finance Division has reviewed and authorized the proposal for submission to the Prime Minister by the Minister for Finance and Revenue. The government aims to alleviate the financial burden on consumers through these new adjustments, reflecting its continuous efforts to manage the impact of global oil price fluctuations on the domestic market.
Imdad Ullah Bosal, Finance Secretary, has confirmed the submission of the summary to the Prime Minister for final approval. Approval is anticipated shortly, which will officially set the new prices in effect from August 1, 2024. This decision is expected to be well-received by the public, providing some relief amid current economic challenges.
For more information and updates, stay tuned to official announcements from the Ministry of Energy (Petroleum Division) and OGRA.
