This tag provides stories related to petroleum. Pakistan Revenue is committed to provide updated petroleum prices to readers when updated. Petroleum prices are very important for all segments of socity.
Falling global oil prices and easing Middle East tensions raise prospects of lower petrol and diesel rates
ISLAMABAD, June 18, 2026 — Pakistan is likely to slash petroleum prices in the upcoming review after Prime Minister Shehbaz Sharif directed authorities to pass on the benefits of declining international oil prices to consumers, raising expectations of significant relief at the fuel pumps.
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Government announces weekly fuel price revision, cutting petrol by Rs4 and diesel by Rs2 per litre effective June 13 amid global oil market changes.
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The federal government has reduced the price of petrol by Rs4 per litre for the coming week, while keeping the price of high-speed diesel (HSD) unchanged.
(more…)In a significant relief for the public, the federal government on Friday announced a sharp reduction in petroleum prices, cutting both petrol and high-speed diesel (HSD) rates by Rs22 per litre across the country.
With the latest revision, the new price of petrol has been fixed at Rs381.78 per litre, while high-speed diesel will now be available at Rs380.78 per litre.
The price cut is expected to provide immediate relief to consumers and ease pressure on transport and logistics costs nationwide.
According to officials, the decision has been taken in light of the continued decline in global crude oil prices, allowing the government to pass on the benefit to local consumers.
The move comes as international energy markets show a downward trend, creating space for adjustments in domestic fuel rates.
This is the second reduction in fuel prices within a short span of time. Earlier, petrol prices were reduced by Rs6 per litre, while diesel saw a cut of Rs6.80 per litre.
The latest and much larger reduction is expected to have a broader impact on inflation, particularly in transport-dependent sectors.
High-speed diesel plays a key role in Pakistan’s economy, as it is widely used in freight transport, agriculture machinery, buses, and trucks.
Experts believe the price cut could help reduce supply chain costs, which may eventually reflect in the prices of essential commodities if savings are passed on to consumers.
The government has reiterated that providing relief to the public remains a key priority despite challenging economic conditions.
It has also maintained that support measures for transport operators, motorcyclists, rickshaw drivers, and small businesses will continue as part of its broader economic relief strategy.
On the global front, crude oil prices continued to slide on Friday. Brent crude fell nearly 2% to around $91 per barrel, while US West Texas Intermediate (WTI) dropped to about $87 per barrel.
Market analysts note that easing geopolitical concerns and expectations of stable supply have contributed to the recent decline in oil prices.
If this trend continues, further adjustments in domestic fuel prices may be seen in upcoming reviews, offering additional relief to consumers and businesses.
Islamabad, February 12, 2026 – The Directorate General of Petroleum Concessions (DGPC) has launched regulatory proceedings against three exploration and production companies over alleged violations of petroleum rules, Parliamentary Secretary for Energy (Petroleum Division) Mian Khan Bugti informed the National Assembly on Thursday.
(more…)Karachi, July 7, 2024 – Pakistan’s petroleum dealers have successfully convinced the government to reverse a new tax regulation after arguing it amounted to double taxation.
(more…)Karachi, July 5, 2024 – Pakistan witnessed a patchy petrol pump strike on Friday as the Pakistan Petroleum Dealers Association (PPDA) remained split over a call to protest a new 0.5% turnover tax imposed in the recent federal budget.
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Islamabad: In a bid to tackle the persistent dry outs in the petroleum sector, the government of Pakistan has unveiled a new policy known as the “bonded warehouse.”
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Following the last update on May 1, the daily petroleum prices in Pakistan for May 2023 have remained unchanged, offering stability to consumers. The current prices will be effective until May 15, 2023.
(more…)ISLAMABAD: Pakistan likely to impose tax on petroleum products to avert imminent shortfall in revenue collection.
Reports suggested that the Federal Board of Revenue (FBR) – the apex tax collecting agency of the country – is anticipating massive revenue shortfall in coming months due to no tax on petroleum products besides slowdown in economic activity.
Reportedly, the FBR may face about Rs500 billion as shortfall in the current fiscal year.
After the first quarter (July – September) 2022/2023, the FBR claimed to present extraordinary performance in revenue collection. “This performance in revenue collection is despite zero rating of Sales Tax on POL products, import compression and the prevailing situation of floods,” the FBR said in a press release.
READ MORE: Petroleum prices in Pakistan for next 10 days; what next?
Experts believed that the imposition of sales tax on petroleum products would increase the retail prices as well as result in high inflation.
At present the prices of petroleum products till November 30, 2022 are: price of petrol is Rs224.80 per liter; high speed diesel Rs235.30 per liter; kerosene oil Rs191.83; and light diesel oil Rs186.50 per liter.
In the latest review on November 15, 2022 the government decided to keep the prices unchanged for the fortnight ending November 30, 2022.
It was third straight announcement to keep the prices of petroleum products unchanged. Previously, on September 30, 2022 the government made changes in petroleum prices.
Experts said that the rise in petroleum prices were imminent in the next review as the government was under immense pressure from the IMF to impose sales tax on petroleum products.
At present the government adopted a policy to keep zero sales tax on petroleum products instead flat rate of 17 per cent. Furthermore, the government also committed to apply petroleum levy to generate more revenue for curtailing budget deficit.
READ MORE: Petroleum prices in Pakistan for next fortnight effective from November 16, 2022
Besides, the exchange rate is again showing a deterioration in rupee value against the dollar. The US dollar continued to make gain for seventh straight session against the Pakistani Rupee (PKR) on November 25, 2022 and reached PKR 223.94 in the interbank foreign exchange market.
The latest import data showed that the petroleum prices were on the higher sides as the country spent more money for import of lesser quantity of petroleum products.
The imports of petroleum products recorded a decline 1.75 per cent to $2.84 billion during July – October of fiscal year 2022/2023 as compared with $2.89 billion in the corresponding period of the last fiscal year.
However, import of petroleum crude recorded an increase of 6.61 per cent to $1.73 billion during the period under review as compared with $1.62 billion in the corresponding period of the last fiscal year.
Interestingly, quantities of both the segments fell 34.43 per cent and 23.26 per cent during the first four months of the current fiscal year, showing surge in prices of the international prices.
Although the present government has kept the prices during last three review under political pressure. But considering the present scenario of fiscal deficit and IMF pressure the government may take tough decision in coming days.
READ MORE: Petroleum prices in Pakistan effective from November 01, 2022