Pakistan Finance Ministry tweeted, “Govt announced new prices of Petroleum Products with effect from 11.00 hrs, 01 August 2023.
- HIGH SPEED DIESEL: RS 273.40 PER LITRE
- MS PETROL: RS 272.95 PER LITRE
- KEROSENE OIL: RS 202.73 PER LITRE
- LIGHT DIESEL OIL: RS 196.68 PER LITRE.
ISLAMABAD: The price of petrol in Pakistan may increase to PKR 309 per liter due to the decline in the value of the rupee and the potential implementation of a sales tax on petroleum products. Fahad Rauf, Head of Equity Research at Ismail Iqbal Securities, has analyzed the potential impact of the exchange rate and the sales tax on petroleum prices. Check Petrol Price in Pakistan 2023 online by pso.
PAKISTAN FINANCE MINISTRY TWEETED, “GOVT ANNOUNCED NEW PRICES OF PETROLEUM PRODUCTS WITH EFFECT FROM 11.00 HRS, 29 JAN, 2023. HIGH SPEED DIESEL-RS 262.80 PER LITRE MS PETROL –RS 249.80 PER LITRE KEROSENE OIL -RS 189.83 PER LITRE LIGHT DIESEL OIL – RS 187 PER LITRE.
The price of petrol in Pakistan may increase to PKR 309 per liter due to the decline in the value of the rupee and the potential implementation of a sales tax on petroleum products. Fahad Rauf, Head of Equity Research at Ismail Iqbal Securities, has analyzed the potential impact of the exchange rate and the sales tax on petroleum prices. The prices of high speed diesel, petrol, kerosene oil, and light diesel oil will remain unchanged from January 16, 2023 to January 31, 2023 at Rs227.80, Rs214.80, Rs171.83, and Rs169 respectively. Despite expectations that the government would raise prices due to IMF demands for increased revenue, they have decided to keep them unchanged for the past two fortnights. However, an increase in petroleum prices could make it difficult for people to manage their daily affairs. Pakistan relies heavily on imported fuel to meet domestic demand, and the previous government of PTI implemented policies such as zero petroleum levy and sales tax and subsidies on petroleum products to provide relief to the masses. However, the new coalition government led by PML-N has raised prices since the removal of former Prime Minister Imran Khan on April 10, 2022. The present government estimates collecting Rs855 billion as petroleum levy during the 2022/2023 fiscal year.
PETROL PRICE IN PAKISTAN IN TABLE:
| Product Name | Old Price (in Rupee) | New Price (in Rupee) | Difference (in Rupee) |
| Petrol | 253.00 | 272.95 | +19.95 |
| High-Speed Diesel (HSD) | 253.50 | 273.40 | +19.90 |
| Kerosene Oil (SKO) | 164.07 | 164.07 | 0.00 |
| Light Diesel | 147.68 | 147.68 | 0.00 |
Q: WHAT IS PETROL?
By reading the article Today Petrol Price in Pakistan 2023 – Latest Petroleum Prices in Pakistan Petrol is a type of gasoline, which is a fuel made from crude oil and used to power vehicles such as cars, motorcycles, and trucks. It is also known as gasoline or gas in some countries. Petrol is a mixture of hydrocarbons, primarily hexane and heptane, and is highly flammable and toxic.
Petrol, also known as gasoline or gas, is a type of fuel made from crude oil. It is widely used to power vehicles such as cars, motorcycles, and trucks. Petrol is a mixture of hydrocarbons, primarily hexane and heptane, and is highly flammable and toxic.
Q: WHAT IS THE COMPOSITION OF PETROL?
Petrol is composed primarily of hydrocarbons, including aliphatic compounds such as hexane and heptane, as well as aromatic compounds such as benzene, toluene, and xylene. It also contains small amounts of sulfur and other impurities. The exact composition of petrol can vary depending on the source of the crude oil and the refining process used to produce it.
PROPERTIES OF PETROL:
Petrol is a liquid at room temperature and has a clear, yellowish color. It has a strong, pungent odor and is highly flammable. It has a high energy density and a low viscosity, which makes it easy to pump and transport. Petrol also has a relatively low flash point, which is the temperature at which it will ignite, making it a potentially dangerous fuel if not handled properly.
USES:
The primary use of petrol is as a fuel for internal combustion engines in vehicles. It is also used in small engines, such as those in lawnmowers and generators, and in some industrial and agricultural applications. Petrol is also used as a solvent in some chemical and industrial processes.
Q: MAIN PETROL PRODUCTION COUNTRIES?
The top petrol-producing countries in the world include the United States, Russia, Saudi Arabia, and China. Other major petrol-producing countries include Canada, Iran, Iraq, and the United Arab Emirates. The majority of the world’s crude oil reserves are located in these countries, and they have the capacity to produce large quantities of petrol.
Q: PETROL PRICES AND HIKE ALL AROUND THE WORLD?
The price of petrol can vary widely depending on a number of factors, including the price of crude oil, the cost of refining and distribution, taxes, and demand. In recent years, there has been a significant increase in the price of petrol in many countries, due in part to rising crude oil prices and geopolitical tensions. This has led to concerns about the affordability of petrol for consumers, as well as the impact on the global economy.
Q: PETROL PRICES IN PAKISTAN?
The price of petrol in Pakistan can vary depending on a number of factors, including the price of crude oil, taxes, and exchange rates. The price is also subject to fluctuations due to changes in government policies and regulations.
In Pakistan, the government sets the retail price of petrol, which is then sold to consumers through state-owned oil marketing companies. The government also imposes taxes on petrol, which can add to the cost for consumers.
In recent years, the price of petrol in Pakistan has been subject to frequent changes due to fluctuations in the global price of crude oil, changes in government policies and taxes, and exchange rate fluctuations. The government often adjusts the prices of petrol on a monthly basis, in line with changes in international crude oil prices.
In general, the price of petrol in Pakistan is considered to be relatively low compared to other countries, but it can still be a significant cost for many people, particularly those on low incomes. The increase in petrol prices also has a significant impact on the cost of living and the economy.
Q: PETROL USAGE IN LINKED TO PAKISTAN’S GDP?
Petrol usage can have a significant impact on the GDP of Pakistan. As petrol is a major source of energy for transportation, industry, and agriculture, changes in the price of petrol can affect the cost of goods and services, as well as the overall level of economic activity.
When the price of petrol increases, it can lead to higher inflation, as the cost of transportation and other goods and services goes up. This can reduce consumer spending, leading to slower economic growth. Additionally, higher petrol prices can also affect the competitiveness of Pakistan’s exports, as it increases the cost of production.
