Islamabad, July 18, 2023: The government of Pakistan has recently announced revised petroleum prices that will be effective from July 18, 2023, until July 31, 2023. These updated prices come as welcome news for consumers as they reflect a reduction in the cost of petrol and high-speed diesel (HSD).
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Finance Minister Ishaq Dar unveiled the decision recently, which sees a significant decrease in the price of petrol by Rs 9 per liter. This reduction aims to provide relief to the general public and mitigate the impact of rising global oil prices on consumers’ budgets. The new price of petrol stands at Rs 253 per liter, offering some respite to vehicle owners and commuters.
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Similarly, the price of high-speed diesel (HSD) has been lowered by Rs 7 per liter, bringing it to Rs 53.50 per liter. This reduction is likely to benefit various sectors, including transportation, agriculture, and industry, as HSD is a crucial fuel for these sectors. The decrease in HSD prices will help alleviate some of the financial burden faced by businesses and individuals who rely on this fuel for their operations.
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Furthermore, the prices of kerosene and light diesel oil (LDO) have also been announced. The price of kerosene remains unchanged at Rs 164.07 per liter, ensuring the availability of affordable energy for cooking and lighting purposes, particularly for low-income households. The price of light diesel oil stands at Rs 147.68 per liter, maintaining stability to support agricultural activities and certain industries.
These revised petroleum prices take into account various factors, including international crude oil prices, exchange rates, transportation costs, and local taxes. The government’s decision to lower the prices of petrol and HSD demonstrates its commitment to balancing the needs of consumers with the economic sustainability of the petroleum sector.
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It is essential for consumers and stakeholders to stay updated with the latest petroleum prices and plan their budgets accordingly. The government will continue to monitor market conditions and make necessary adjustments to ensure a fair and efficient energy pricing system.
