Diesel and Petrol Price in Pakistan

Current Petrol Price in Pakistan is Rs. 293.94/Ltr, High Speed Diesel is Rs. 290.38/Ltr and Light Speed Diesel is Rs 166.86/Ltr.

Petroleum Prices in Pakistan Today

Prices w.e.f 16-April-2024

Types of Petroleum in Pakistan

Petroleum, commonly called crude oil, is a naturally existing liquid beneath the Earth's surface. It originates from the gradual decomposition of organic matter over an extended period. This fossil fuel is important as it undergoes refinement processes in specialized refineries. Moreover, some common types of petroleum are as follows:

1. Petrol (Super)
2. High-speed diesel
3. Light-speed diesel
4. Kerosene
5. Liquified petroleum gas (LPG)
6. Compressed Natural gas (CNG)

Let’s delve into the updated prices of these different types of petroleum. Each type will provide the latest price to the consumers.

Petrol (Super) Price in Pakistan

This kind of petrol is also known as super with a higher octane rating that provides excellent engine performance. It is significantly used in bikes and cars. The petrol price in Pakistan is PKR 293.94, according to the latest updates.

High Speed Diesel Price in Pakistan

High-speed diesel usually powers commercial vehicles and enables them to pass 7500 RPMs. It is the ideal choice for heavy-duty cars, trucks, and buses. Additionally, the price of high-speed diesel in Pakistan is PKR 290.38, according to the latest updates.

Light Speed Diesel Price in Pakistan

Light speed diesel prices in Pakistan usually operate medium-sized vehicles. These vehicles typically need more power than personalized used vehicles. The light-speed diesel price in Pakistan is Rs.166.86.

Kerosene Oil Price in Pakistan

Kerosene oil holds great demand in petroleum industries across Pakistan. It usually imparts power to small machines and equipment. The kerosene oil price in Pakistan is PKR 186.86.

LPG Price in Pakistan

Pakistan imports Liquefied Natural Gas (LNG), and Liquefied Petroleum Gas (LPG) is derived from this source. LPG serves dual purposes in Pakistan. It is being used both as a vehicle fuel. However, it also meets the household requirements for natural gas. The liquid petroleum price in Pakistan is RS 254.86 per kg, effective December 1, 2023.

Compressed Natural Gas (CNG)

Compressed Natural Gas (CNG) is a clean-burning alternative fuel derived from natural gas, primarily composed of methane. It undergoes compression to reduce its volume for storage and transportation. It typically can reach pressures of 3,000 to 3,600 psi. CNG is cheaper than diesel fuel.

High Octane Price in Pakistan

Among the highest petrol prices in the world, Pakistan's high octane petrol commands a significant price due to its superior quality and performance benefits.

Note: OGRA does not control Hi-Octane petrol prices in Pakistan. Thus, Hi-Octane prices vary across different Petrol Pumps.

Highest Petrol Rate in Pakistan

The highest petrol price in Pakistan's history was Rs 331.38 per liter in January 2023. However, it also occasionally looms around the 230 mark whenever petroleum products are in high demand globally, as is the case these days.

Euro Fuel Emission Standards in Pakistan

Pakistan has officially adopted the Euro V emission standards to improve the engine performance of our vehicles. This also helps create a greener environment for Pakistan's future generations.

Previously, Pakistan adopted the Euro II Emission Standards in 2012, when Euro II was already outdated. Now, Pakistan has skipped Euro III and Euro IV to adopt Euro V standards in 2020 which was introduced in 2009 in other countries. Many countries have been following Euro VI Emission Standards since 2014 and would switch to Euro VII, which is expected around 2025.

Petrol Price - 2018 and Beyond

Based on the value of the Rupee in the international market, the oil prices also fluctuate. Since 2018, due to the devaluation of the Rupee, oil prices in the global market have also increased in Pakistan.

In 2021, the government of Pakistan tried to regulate petrol prices in the country by decreasing the tax margin. Although effective, the strategy was a short-term solution. Issues like this are common for developing countries like Pakistan that highly rely on imported oil. This leads to inflation in the oil prices and makes it difficult for consumers to buy petrol.

The Oil and Gas Regulatory Authority (OGRA) controls the petrol rates in Pakistan. OGRA has a practice of revising all fuel prices twice a month. The new prices are announced on the 15th and the last day of each month and usually remain in effect for the next 15 days.

Historical Background of Petrol Rate

During 1990, people used only fuels in their cars due to the later evolution of CNG. The people considered it easy to top up their cars with fuel. However, the cost of petrol has been constantly rising since then. During the regime of Zardari, petrol prices were at their peak. The prices were considerably low at the end of the Nawaz Sharif regime. Due to the interim constitution, the government became unstable.

Furthermore, the prices of petrol remained constant since that time. The Oil and Regulatory Gas Authority (OGRA) sets oil prices today and in the future. The petrol price in Pakistan can vary depending upon several factors. It includes the economic condition of the country, geopolitical factors, and government policies. However, you can check it here on PakWheels.

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