Finance Minister Miftah Ismail said on Wednesday that Petrol Prices in Pakistan are expected to be slashed from tonight (14 July 2022) as the Federal Government passes on the benefit of reduction in the price of crude oil in the international market on to the consumers.
According to the details, a reduction of Rs. 10 per litre is expected in the Petrol Price in Pakistan, while the Price of High-Speed Diesel (HSD) is expected to be slashed by Rs. 25 per litre. However, the immediate reduction in the Petrol Prices in Pakistan would require a approval of the Federal Cabinet otherwise the Government would have to wait until July 16.
However, Finance Minister Miftah Ismail said that new Petrol Prices in Pakistan are likely yo be announced from today (Wednesday), which means they would come into effect from tonight (14 July 2022). He added that Petroleum Division’s summary will be forwarded to Prime Minister Shehbaz Sharif immediately.
Earlier, Prime Minister Shehbaz Sharif had asked the concerned ministries to move a summary suggesting a reduction in the Petrol Prices in Pakistan to pass on the full benefit of reduction in the price of oil in the international market to the consumers with immediate effect.
It is pertinent to mention that Petrol Prices in Pakistan have been increased by over Rs. 100 per litre ever since the coalition government came to power after ousting Imran Khan as Prime Minister through a no-confidence motion. The incumbent government has so far blamed the previous PTI government for all the challenges, while inflation has been on the rise since they came to power.
Current Petrol Prices in Pakistan
| PRODUCT | CURRENT PRICE (PKR) |
|---|---|
| Petrol | 248.74 |
| High Speed Diesel (HSD) | 276.54 |
| Kerosene Oil | 230.26 |
| Light Diesel Oil (LDO) | 226.15 |
Read more: PM Sasta Petrol, Sasta Diesel Relief Package – How to Apply.
