Petrol Price in Pakistan Drops by Rs0.50 per Liter
The decrease in fuel prices is expected to benefit various sectors, including public transport, agriculture, and industry, and the government's decision to reduce fuel prices is expected to have a positive impact on the economy, with the new prices effective from March 1, 2025.
Petroleum prices in Pakistan are likely to decrease due to a decline in international oil prices, with the Oil and Gas Regulatory Authority (OGRA) recommending a reduction in fuel prices, effective from March 1, 2025.
The recommended price decrease includes a Rs5.30 per liter reduction in high-speed diesel prices and a Rs0.50 per liter decrease in petrol prices. The new prices are as follows: High-Speed Diesel (HSD) will cost Rs258.64 per liter, MS Petrol will cost Rs255.63 per liter, Superior Kerosene Oil will cost Rs292.88 per liter, and Light Diesel Oil (LDO) will cost Rs245.11 per liter.
The Pakistan Petroleum Dealers Association has expressed concerns over the government's plan to deregulate petroleum product prices, fearing it would lead to an increase in smuggled oil and non-standard fuel sales. The association has called for consultations with stakeholders to address these concerns. Additionally, OGRA has announced a price reduction for domestic LPG cylinders, with the price of an 11.8 kg cylinder reduced by Rs72.57.
The reductions in fuel prices are expected to benefit various sectors, including public transport, agriculture, and industry, by lowering fuel costs. The HSD price drop may contribute to lower transportation costs, while the minor decrease in petrol prices is unlikely to make a significant difference in daily commuting expenses.
The price reduction is a welcome relief for consumers, who have been facing high fuel costs in recent times. The government's decision to reduce fuel prices is expected to have a positive impact on the economy, and the Petroleum Dealers Association's concerns will be addressed through consultations with stakeholders.
