The government of Pakistan has recently unveiled the revised petroleum prices that will be in effect from July 7, 2023, until July 15, 2023.
These prices may be subject to change if there are any earlier revisions. The government regularly reviews and adjusts petroleum prices every two weeks, striving to maintain a balance between generating revenue and ensuring affordability for consumers.
According to the latest announcement, the following revised petroleum prices are applicable in Pakistan as of July 7, 2023:
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
These prices will remain valid for the designated period mentioned above, providing consumers with a clear understanding of the costs associated with their fuel consumption.
In international markets, oil prices experienced little change on July 6, 2023. Brent crude futures settled 13 cents lower at $76.52 per barrel, following a 0.5% gain on the previous day. Meanwhile, U.S. West Texas Intermediate crude increased by 1 cent to $71.80 per barrel after a 2.9% rise in post-holiday trading on Wednesday, catching up with the earlier gains made by Brent crude earlier in the week.
The fluctuations in international oil prices often influence the local petroleum prices in Pakistan. The government of Pakistan closely monitors these global trends to determine appropriate adjustments in the domestic prices, taking into account the impact on both consumers and revenue generation.
Consumers and businesses in Pakistan will need to take note of the revised petroleum prices to plan their budgets and make informed decisions regarding fuel consumption and transportation costs. The government remains committed to ensuring stability in the energy sector and providing affordable options for the public.
Please note that these petroleum prices are subject to change if the government announces any revisions before the next scheduled update. Consumers are advised to stay informed about any future adjustments that may affect their expenses related to petroleum products.