Govt Cuts Diesel Price by Rs3.05 Per Litre, Keeps Petrol Unchanged
Revised Fuel Prices Effective December 16, 2024
The Government of Pakistan has recently revised fuel prices for the fortnight starting December 16, 2024. According to the Finance Division’s notification, the price of petrol remains unchanged, while the price of High-Speed Diesel (HSD) has been reduced by Rs3.05 per litre.
- Petrol Price: Rs252.10 per litre
- High-Speed Diesel (HSD) Price: Rs255.38 per litre
- Kerosene Oil Price: Rs161.66 per litre (reduced by Rs3.32)
- Light Diesel Oil (LDO) Price: Rs148.95 per litre (reduced by Rs2.78)
These changes are aimed at providing some relief to the public amidst fluctuating global fuel prices.
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Key Highlights of the Notification
The Finance Division confirmed that these revised prices will remain effective until the end of December. The decision to keep petrol prices steady while reducing diesel prices reflects a strategy to balance the impact of international oil price fluctuations on domestic consumers.
- Petrol Price Stability: The price of petrol has been maintained at Rs252.10 per litre, offering consistent rates to consumers.
- Diesel Price Reduction: High-Speed Diesel, widely used in agriculture and transport, has seen a significant price drop, making it more affordable for key sectors.
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Previous Price Adjustments
In the previous fortnightly review, petrol prices were increased by Rs3.72 per litre, setting the rate at Rs252.10. Similarly, HSD prices were raised by Rs3.29, bringing them to Rs258.43. The latest price reductions on HSD, kerosene oil, and LDO aim to counterbalance earlier hikes.
Market speculation prior to the announcement had suggested a reduction of up to Rs3.97 per litre for HSD, kerosene oil, and LDO, while petrol was expected to rise slightly.
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Impact on Consumers
These adjustments are expected to benefit various sectors:
- Transport Sector: The price cut on diesel, a primary fuel for commercial vehicles, may help lower transportation costs.
- Agricultural Sector: Diesel is a critical input for machinery and irrigation, and the reduced cost may offer relief to farmers.
- Households: The drop in kerosene oil and LDO prices will reduce costs for rural households relying on these fuels for cooking and heating.
Updated Information
As part of the government’s ongoing efforts to stabilize the economy, authorities are exploring additional measures to manage inflation and ensure affordability of essential commodities. Proposals under consideration include targeted subsidies for low-income households and further adjustments to fuel pricing mechanisms. This initiative complements broader welfare programs such as the Ehsaas and BISP schemes.
For more updates on similar programs, Read More.
FAQs
What is the current price of petrol in Pakistan?
As of December 18, 2024, petrol costs Rs252.10 per litre.
How much has the diesel price been reduced?
Diesel prices have been reduced by Rs3.05 per litre, bringing it to Rs255.38 per litre.
What are the new prices for kerosene oil and light diesel oil (LDO)?
Kerosene oil is now Rs161.66 per litre, while LDO costs Rs148.95 per litre.
Why were petrol prices not reduced?
The government decided to maintain petrol prices to ensure stability amidst fluctuating global oil prices.
How will this price change affect the agriculture sector?
Reduced diesel prices will lower operational costs for agricultural machinery and irrigation systems, benefiting farmers.
When will the next fuel price review occur?
The next review is expected at the end of December 2024.
Where can I find more details about government welfare programs?
Visit 8171kasincard.com for information on various schemes.
What are the implications of this price change on transportation costs?
The reduction in diesel prices is likely to decrease transportation expenses, positively impacting goods and passenger services.
What measures are being taken to address inflation?
The government is considering targeted subsidies and reforms in pricing mechanisms to control inflation.