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PM Shehbaz announces reduction of Rs22 in petrol, diesel prices each

PM Shehbaz

LAHORE: The federal government on Friday decided to reduce petrol and diesel prices by Rs 22 per litre each.

Prime Minister Muhammad Shehbaz Sharif said that providing relief to the public was among his top priorities. The premier had promised the nation that relief would be provided to the public as soon as there was a room to do so.

 That promise had now been fulfilled exactly as stated and served as a gift to the public on the third day of Eid-ul-Azha.

It is pertinent to mention that last week, relief was also provided to the public through reductions in petrol and diesel prices.

 Even under the most difficult circumstances, the federal government continued providing relief to the people and offered fuel subsidies for public and goods transport, as well as for motorcycle and rickshaw users.

At a time when people in other countries in the region were standing in queues to obtain petrol, timely measures taken by Prime Minister Shehbaz Sharif ensured that petrol and diesel remained available to the public in Pakistan.

During the worst global oil crisis, despite rising international oil prices, the PM prevented increases in domestic fuel prices by providing subsidies of over Rs 130, thereby continuing to deliver relief to the public.

Petrol, diesel price hike expected as government reviews summary

Petrol

ISLAMABAD: The government is expected to announce new petroleum product prices today, with a significant increase under consideration.

According to sources, a summary has been sent to the federal government proposing an increase of Rs29 per litre in petrol and Rs49 per litre in diesel prices. The final decision will be taken by Prime Minister Shehbaz Sharif.

Sources said the government had previously absorbed a financial burden of Rs23 billion for one week, maintaining petrol and diesel prices from March 14 to 20. This relief was provided under price differential claims.

On March 14, the government had withheld a proposed increase of Rs49.63 per litre in petrol and Rs75.05 per litre in diesel.

However, sources indicate that prices may again be kept unchanged for the coming week, as the government is considering continuing the price differential claim mechanism to shield consumers.

Currently, taxes account for Rs121.77 per litre of petrol, making up around 38% of its price. Diesel includes Rs73.42 per litre in taxes, approximately 22% of its total price. These prices also include customs duties, petroleum levy, and climate support levy.

Relief for consumers as fuel prices remain stable

Relief for consumer

ISLAMABAD: The federal government has decided to maintain existing prices of petrol and diesel, providing relief to consumers amid ongoing economic pressures.

The Petroleum Division has issued an official notification confirming that there will be no change in fuel prices.

According to the notification, the price of petrol will remain fixed at Rs253.17 per litre, while the price of high-speed diesel will continue at Rs257.08 per litre.

The decision to keep fuel prices unchanged comes as part of the government’s broader efforts to ensure price stability and manage inflationary pressures in the country.

Earlier, the government has announced a significant cut in petroleum product prices, offering relief to consumers.

According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs10.28 per litre, bringing the new petrol price to Rs253.17 per litre.

The notification further stated that the price of diesel has been lowered by Rs8.57 per litre, with the new diesel price fixed at Rs257.08 per litre.

The revised prices will come into effect from January 1, offering financial relief amid rising living costs.

Petrol, Diesel prices expected to drop notably from Dec 1

Petrol

ISLAMABAD: Petroleum prices in Pakistan are projected to fall from December 1, marking a notable decrease for the next two weeks.

According to industrial and government sources, petroleum prices may drop by up to Rs 6.35 per litre from December 1.

The anticipated relief is attributed to increased global supply following the restoration of several units at Kuwait’s Al-Zour refinery, one of the Gulf region’s largest refining complexes.

Based on preliminary calculations using 13 days of data, petrol prices may decrease by Rs 3.70 per litre, bringing the current price down from Rs 265.45 to approximately Rs 261.75 per litre.

On the other hand, the price of high-speed diesel is likely to decrease by Rs 4.28 per litre, after which the price may decrease from Rs 284.44 to around Rs 280.16 per litre.

 A slight decrease in the price of kerosene (kerosene) is expected, i.e. after a decrease of Rs 0.73, the price of kerosene may decrease from Rs 194.34 to approximately Rs 193.61 per litre.

According to sources, light diesel oil price is expected to decrease the most, after a reduction of Rs 6.35 per liter from Rs 170.80 to Rs 164.45 per litre.