Petrol prices increased once again in Pakistan.
The petrol prices, High-Speed Diesel (HSD) and Kerosene have gone up by Rs5, Rs13 and Rs2.56 per litre respectively.
Notification of petrol prices
“In the last fortnight, Platts Singapore prices registered an increase. This along with a depreciation of the Pak rupee has resulted in an increase of POL (petroleum, oil and lubricant) products in Pakistan,” the Finance Division notified.
The press release added that the increase in the price of kerosene had been kept at Rs2.56 “by reducing government dues on it”. “[The] price of light diesel oil (LDO) has been kept constant by adjusting government dues as well.”
The cost of Low-Speed Diesel has remained unchanged, it stated, adding that the new price of HSD is Rs 293 per litre.
Petrol prices increased just look at the table below:
| Product | Previous price | New price |
| MS (Petrol) | 267.00 | 272.00 |
| HSD | 280.00 | 293.00 |
| Kerosene | 187.73 | 190.29 |
| Light diesel oil | 184.68 | 184.68 |
The new price of petrol is Rs 272 per litre and the rate of kerosene is Rs 190.29 per litre.
After the latest revision, the price of petrol has risen to Rs272 per litre while the price of HSD is Rs293 per litre. The cost of kerosene has jumped to Rs190.29 per litre while LDO remains Rs184.68 per litre.
The new petrol prices will be effective from March 16 (Thursday).
The IMF loan delay is costing the nation massive depreciation of the local currency and an immense increase in energy prices in Pakistan.
On February 28, Finance Minister Ishaq Dar announced a reduction in the price of petrol by Rs5 per litre while keeping the price of HSD unchanged at Rs280 per litre.
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Early this month, reports surfaced that the nation’s oil industry was reportedly having trouble arranging crude oil and petroleum products due to restrictions on foreign exchange and current product pricing, particularly in light of the recent depreciation in the value of the national currency and increase in the policy rate of the central bank.
The Oil Companies Advisory Council (OCAC), an organisation of more than thirty major oil marketing companies (OMCs) and refineries, informed the government of these issues and expressed concern about a serious disruption to the already precarious supply chain.
The association has requested an urgent meeting to address the “severe impact of the recent depreciation of the rupee” in a communication to the ministers of finance and energy, the governor of the State Bank of Pakistan (SBP), and the chairman of the Oil and Gas Regulatory Authority (Ogra).
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The oil sector also urged the government to make sure that banks increased limits for oil companies and refineries so they could manage the effects of rising oil prices and rupee depreciation, which was essential for the sector’s survival and the integrity of the POL supply chain.
