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Petrol, Diesel and Kerosine Prices in Pakistan 2024

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Petroleum Prices in Pakistan

Today’s Petroleum Prices in Pakistan

Petroleum Prices in Pakistan

 

Types of Petroleum in Pakistan: Understanding the Varieties and Prices

Petroleum, often referred to as crude oil, is a valuable natural resource found beneath the Earth’s surface. It is formed through the gradual decomposition of organic matter over millions of years. This fossil fuel plays a crucial role in various industries, particularly after undergoing refinement processes in specialized refineries. In Pakistan, like in many other countries, there are several common types of petroleum, each with its unique characteristics and applications.

Petrol (Super)

Petrol, commonly known as super, boasts a higher octane rating, which translates to excellent engine performance. It is extensively utilized in both motorcycles and automobiles. The current price of petrol in Pakistan stands at PKR 275.62 per liter, according to the latest updates.

High-Speed Diesel

High-speed diesel is primarily used to power commercial vehicles, allowing them to operate at over 7500 RPMs. It is the preferred choice for heavy-duty vehicles such as trucks and buses. The price of high-speed diesel in Pakistan is PKR 287.33 per liter, reflecting a slight increase of Rs 8.37.

Light-Speed Diesel

Light-speed diesel caters to medium-sized vehicles that require more power than standard passenger vehicles. It is commonly used in various industrial applications. The current price of light-speed diesel in Pakistan is Rs. 166.86 per liter.

Kerosene Oil

Kerosene oil holds significant demand in Pakistan’s petroleum industry, often used to power small machines and equipment. The price of kerosene oil in Pakistan is PKR 186.86 per liter.

Liquified Petroleum Gas (LPG)

Liquified Petroleum Gas (LPG) is derived from imported Liquefied Natural Gas (LNG) and serves dual purposes in Pakistan. It is utilized as a vehicle fuel and also meets household requirements for natural gas. The price of LPG in Pakistan is RS 254.86 per kg, effective December 1, 2023.

Compressed Natural Gas (CNG)

Compressed Natural Gas (CNG) is an environmentally friendly alternative fuel derived from natural gas, primarily composed of methane. It undergoes compression to reduce volume for storage and transportation, reaching pressures of 3,000 to 3,600 psi. CNG is notably cheaper than diesel fuel.

High Octane

High octane petrol commands a significant price in Pakistan due to its superior quality and performance benefits. However, OGRA does not control the prices of high octane petrol, leading to variations across different petrol pumps.

Historical Background and Economic Impact

The history of petrol prices in Pakistan is intertwined with various socio-economic factors. During the 1990s, petrol was the primary fuel for vehicles before the widespread adoption of CNG. Since then, petrol prices have steadily risen, influenced by economic conditions, geopolitical factors, and government policies.

In recent years, the government has attempted to regulate petrol prices by adjusting taxes, but these measures often provide short-term relief. The devaluation of the Pakistani Rupee in the international market has further contributed to fluctuations in oil prices, impacting consumers’ purchasing power.

Conclusion

Petroleum products play a vital role in Pakistan’s economy and daily life. Understanding the different types of petroleum and their prices is essential for consumers and businesses alike. As Pakistan continues to navigate economic challenges and adopt greener energy standards, the dynamics of the petroleum industry are likely to evolve.

FAQs (Frequently Asked Questions)

1. Why do petrol prices fluctuate in Pakistan? Petrol prices in Pakistan are influenced by various factors such as international oil prices, currency exchange rates, taxes, and government policies.

2. What is the significance of Euro V emission standards for Pakistan? Euro V emission standards aim to improve vehicle engine performance and reduce harmful emissions, contributing to a cleaner environment and better public health.

3. How often are petrol prices revised in Pakistan? The Oil and Gas Regulatory Authority (OGRA) revises petrol prices twice a month, with new prices announced on the 15th and last day of each month.

4. What is the future outlook for Pakistan’s adoption of Euro VI emission standards? While Pakistan currently adheres to Euro V standards, there is potential for future adoption of Euro VI standards to further enhance environmental sustainability.

5. How do geopolitical factors affect petrol prices in Pakistan? Geopolitical tensions, conflicts, and international agreements can impact oil production, supply, and prices, consequently influencing petrol prices in Pakistan.

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