Pakistan Notifies Petroleum Prices for Second Half of June 2024

Pakistan Notifies Petroleum Prices for Second Half of June 2024

Islamabad, June 15, 2024 – The Government of Pakistan has announced new petroleum prices for the second half of June 2024. According to a statement released by the Finance Division, the prices of petroleum products have experienced mixed trends in the international market over the last fortnight.

The Oil & Gas Regulatory Authority (OGRA) of Pakistan has calculated the consumer prices based on these international market variations. As a result, the prices of Motor Spirit (Petrol) and High-Speed Diesel (HSD) have been revised for the fortnight starting June 15, 2024 in Pakistan.

The revised prices are as follows (in Rs. per liter):

ProductExisting Prices (w.e.f. 01.06.2024)New Prices (w.e.f. 15.06.2024)Increase/Decrease
MS (Petrol)268.36258.16-10.20
High-Speed Diesel (HSD)270.22267.89-2.33

The reduction in petroleum prices is expected to alleviate some of the inflationary pressures on citizens of Pakistan. The decrease in the price of Motor Spirit (Petrol) by Rs.10.20 per liter and High-Speed Diesel by Rs.2.33 per liter should provide much-needed relief to consumers, especially in a period marked by economic challenges and rising living costs.

The Finance Division of Pakistan highlighted that the adjustments were made after careful consideration of the fluctuating trends in the global oil market. This decision is part of the government’s broader efforts to stabilize the economy and provide relief to the public.

The new prices, effective from June 15, 2024, will remain in place until the end of the month, subject to further adjustments based on international market conditions. The government of Pakistan will continue to monitor global oil prices and adjust domestic rates accordingly to ensure that consumers are not unduly burdened.

With the fall in petroleum prices, the government hopes to mitigate the impact of inflation and support economic stability, providing a modest reprieve for households and businesses across Pakistan.