ISLAMABAD – The government of Pakistan has announced the latest petroleum prices, effective from July 13 until July 15, 2023.
These price adjustments are aimed at regulating the cost of essential commodities and directly impact the citizens of Pakistan, as petroleum prices play a significant role in the country’s inflation rate.
The updated petroleum prices in Pakistan are as follows:
• Petrol: Rs 262 per liter
• High-Speed Diesel: Rs 260.50 per liter
• Kerosene: Rs 164.07 per liter
• Light Diesel Oil: Rs 147.68 per liter
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It is important to note that these prices will remain in effect until July 15, 2023, unless there are any earlier revisions. The government of Pakistan regularly announces revised petroleum prices every fortnight, striving to strike a balance between revenue generation and consumer affordability.
The next revision of petroleum prices for the second half of July is scheduled to be announced on July 15, 2023, and will remain applicable until July 31. These revisions are part of the government’s ongoing efforts to manage the impact of fluctuating global oil prices and ensure stability in the domestic market.
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The cost of petroleum products has a direct bearing on various sectors of the economy, including transportation, agriculture, and manufacturing. Therefore, any adjustments in petroleum prices have a cascading effect on the overall cost of goods and services.
The government of Pakistan is cognizant of the challenges faced by the general public due to rising inflation and has taken measures to mitigate its impact. However, the balancing act between revenue generation and affordability remains a constant challenge, given the volatile nature of global oil prices.
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It is worth mentioning that the Oil and Gas Regulatory Authority (OGRA) is responsible for recommending petroleum prices to the government based on the international market rates and the impact on the local economy. The government then reviews and approves these recommendations before announcing the revised prices.
Citizens and stakeholders are advised to stay updated with the latest petroleum prices to plan their budgets accordingly. Any changes in the petroleum prices beyond the announced dates will be communicated to the public through official channels and media outlets.
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In conclusion, the government of Pakistan has released the latest petroleum prices, which will be applicable from July 13 until July 15, 2023. These prices have a direct impact on the cost of essential commodities and the country’s inflation rate.
The government continues to strike a balance between revenue generation and consumer affordability, with the next revision of petroleum prices scheduled to be announced on July 15 for the second half of July. Citizens are advised to stay informed about any changes in petroleum prices beyond the announced dates.
