The Petrol Prices in Pakistan have been increased from 16 June 2022 on the directives of Prime Minister Shehbaz Sharif, announced Finance Minister Miftah Ismail on Wednesday during a press conference in Islamabad.
According to the announcement, Petrol Price in Pakistan has been increased by Rs. 24.03 per litre, while the Price of High-Speed Diesel (HSD) in Pakistan has been hiked by Rs. 59.16 per litre. Meanwhile, the Price of Kerosene Oil will be increased by Rs. 29.49 per litre and the Price of Light Diesel Oil (LDO) will be hike by Rs. 29.16 per litre.
This will bring the Price of Petrol in Pakistan at Rs. 233.89 per litre, while the Price of High-Speed Diesel will be Rs. 263.31 per litre after the increase. Meanwhile, the new Price of Kerosene Oil will be Rs. 211.43 per litre and Light Diesel Oil (LDO) will now be sold at Rs. 207.47
Petrol Prices in Pakistan From 16 June 2022
CURRENT PRICE (PKR)
NEW PRICE (PKR)
High Speed Diesel (HSD)
Light Diesel Oil (LDO)
The Latest Petrol Prices in Pakistan will come into effect from 16 June 2022.
Hi Octane Price In Different Cities (PSO) Stations
Please find below the prices of various PSO products, effective June 16, 2022, as approved by the Government of Pakistan (GoP) and communicated by the Oil & Gas Regulatory Authority (OGRA). Petrol and diesel prices are regulated by GoP and independently verified by OGRA. Therefore, it is at the discretion of GoP to increase or decrease the final selling price by managing tax rates.
The price announced and the price charged at retail outlets may differ slightly since the prices at the retail outlets are inclusive of freight charges i.e. transportation charges from the nearest oil depot to the retail outlet. These freight charges are also regulated by OGRA. The final selling price at each retail outlet can also be viewed on OGRA’s website.
Earlier today, the Oil and Gas Regulatory Authority (OGRA) had sent a summary to the Petroleum Division to increase the Petrol Prices in Pakistan from 16 June 2022 in light with the negotiations made with the International Monetary Fund (IMF) to restore to the $6 billion loan programme.
Finance Minister Miftah Ismail criticized the old Government for their policies, which led to the “deterioration of the country’s economy.” He added that Imran Khan had deliberately reduced the Petrol Prices in Pakistan by giving subsidies. Ismail said that the incumbent Government was bearing the brunt of that decision.
He added that Pakistan, on every litre, was bearing a loss of Rs. 24.3 per litre on Petrol, Rs. 59.16 per litre on High-Speed Diesel (HSD), Rs. 39.49 per litre on Kerosene Oil, and Rs. 39.16 per litre on Light Diesel Oil. He said that it was a total loss of Rs. 120 billion for the Government during the month of May, which was three times greater than running expenses of the Civil Government amounting to Rs. 40 billion.
It is pertinent to mention that Petrol Prices in Pakistan have been increased by over Rs. 84 per litre in the past 15 days as the Federal Government tries to restore the economy and stabilize the local currency as it continues falling against the US Dollar (USD to PKR).
Earlier today, there were several reports that Prime Minister Shehbaz Sharif had rejected the summary sent by the Oil and Gas Regulatory Authority (OGRA) to increase the Petrol Prices in Pakistan. However, those reports have been confirmed as fake since Finance Minister has announced increase in Prices of these commodities.