In a recent announcement, the Finance Division of Pakistan has revealed an adjustment in the prices of petroleum products for the upcoming two weeks, from August 16 to August 31, 2023. The revised prices reflect the changes in the international market and intended to ensure a balanced economic outlook for the nation. Effective midnight August 16, 2023, consumers will experience the following changes:
Petrol (MS) Price:Previous Price (August 01-15, 2023): Rs 272.95 per litreNew Price (August 16-31, 2023): Rs 290.45 per litreIncrease: Rs 17.50 per litreHigh-Speed Diesel (HSD) Price:Previous Price (August 01-15, 2023): Rs 273.40 per litreNew Price (August 16-31, 2023): Rs 293.40 per litreIncrease: Rs 20.00 per litreProductExisting Prices (Aug 01-15, 2023)New Prices (Aug 16-31, 2023)IncreaseMS (Petrol)Rs 272.95 per litreRs 290.45 per litreRs 17.50/litreHigh-Speed DieselRs 273.40 per litreRs 293.40 per litreRs 20.00/litre
The Finance Division stated that the decision to adjust these prices was prompted due to the recent increase in international petroleum prices. This market-driven adjustment aims to reflect the changing global dynamics in the local pricing structure.
The Finance Division’s announcement comes after careful consideration of the impact on consumers and the economy at large. It is essential to maintain a balance between affordability and the sustainability of the energy sector. These adjustments are an attempt to ensure the smooth functioning of the energy market in Pakistan.
Consumers and stakeholders advised to take note of these changes and adjust their budgets and operations accordingly. These prices remain effective until the end of August 31, 2023, after which a new assessment will made based on the prevailing market conditions.
Please stay informed and stay updated with the latest developments in the energy sector as they continue to influence our economy and daily lives. For any further inquiries, you may contact the relevant authorities or visit their official websites for official statements and updates.