Government of Pakistan has announced new diesel petrol prices in pakistan in Pakistan on 01-June-2024 according to government of Pakistan announcements. The price of petrol and diesel has been decreased in Pakistan.
According to government notification on petrol price decreased by Rs. 4.74/- per liters and the prices of Diesel has been deceased by Rs. 3.86/- per liters.
With the decreased in rates of petroleum and diesel the new price of petroleum per liters in Pakistan is Rs. 268.38/- while the new prices of diesel in Pakistan is Rs. 270.22/- per liter.
The Prime Minister Nawaz Sharif has announced Minor relief in petroleum products to the public. The prices of petroleum products has also decreased in international market but the government of Pakistan has announced its decreased notification in delay because they want to announce it according to recommendation.
The Oil and Gas Regularity authority (OGRA) has processed reduction in oil prices due to the down trend of petroleum products globally. This reduction in prices is due to significant reduction of oil prices globally.
expected petrol prices in pakistan
Expected petrol price in Pakistan from 16 June 2024 is Rs. 256.24/-
Factors affecting petroleum prices
There are many factors that affect petroleum prices. But the most important factors are discussed below in details.
Crude Oil:
Cost of crude oil is Also affect the petroleum prices. Crude oil is unprocessed oil extracted from earth. If it extracted in high amount then the prices may get decreased and if it get extracted in low amount then the price of petroleum products get increased.
Taxes:
The TeX collected by the government also affect the petroleum prices in any country.
It is the most important factor in increasing the prices of petroleum products.
Demand:
Demand is also important factor in petroleum prices fluctuation. If the demand of petroleum products get increased the the prices of petroleum products also get increased. Another hand if the demand deceased then the prices also get decreased.
Geopolitics:
Geopolitics also affect the prices of petroleum products for example international relationship, wars, political problems etc.
Dollar exchange Rates:
The US dollar exchange rates are the major factor in the increase or decreased rates of petroleum products. If the dollar rate decreased then the petrol prices get decreased.
Distribution:
Distribution is also a important factor in petroleum prices like, transportation costs, profit rates, etc.
Above are the main causes of increased or decreased prices of petroleum products in any country.
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