Today the New 16th March Petrol Price in Pakistan 2023: The government of Pakistan, Finance Division has announced the latest petrol prices in Pakistan today 16th March 2023 through the notification of decreasing Petroleum prices by Rs. 5 and also decreasing the price of Diesel. The current Petrol Price in Pakistan 2023 is 272.00 Per Ltr.
The implementation of today’s Pakistan petrol price will be applicable on 16th March 2023 and so on. The final decision of the OGRA proposal has taken after the approval of PM Pakistan Shehbaz Sharif.
Today 16th March Petrol Price in Pakistan 2023
| PRODUCT | OLD PRICE (PKR) | NEW PRICE (PKR) | CHANGE (PKR) |
|---|---|---|---|
| Petrol | 267.00 | 272.00 | +5.00 |
| High Speed Diesel (HSD) | 280.00 | 293.00 | +13.00 |
| Kerosene Oil | 187.73 | 190.29 | +2.56 |
| Light Diesel Oil (LDO) | 184.68 | 184.68 | +0.00 |
Notification of 16th March Petrol Price in Pakistan 2023
Recently, the Federal Government of Pakistan decided to make some changes in the prices of petrol and other petroleum products.
They lowered the price of petrol by Rs. 5 per litre in their latest review. However, the price of High-Speed Diesel (HSD) remained unchanged. On the other hand, the prices of Kerosene Oil and Light Diesel Oil (LDO) decreased by Rs. 15.00 and 12.00 per litre, respectively.
Factors Affecting Petrol Prices
- The price of crude oil: The international price of crude oil is one of the major factors that affect the price of petrol in Pakistan.
- Exchange rate: The Pakistani rupee’s value against the US dollar also plays a role in determining the price of petrol in the country.
- Taxes and levies: The government imposes various taxes and levies on petrol, which also contribute to the final price.
Impact of Petrol Prices on the Economy
- Inflation: An increase in petrol prices can lead to an increase in the cost of goods and services, resulting in inflation.
- Balance of payments: As Pakistan imports, a significant amount of crude oil, an increase in petrol prices can negatively impact the country’s balance of payments.
- Transportation costs: An increase in petrol prices can lead to an increase in transportation costs, which can affect businesses and consumers alike.
Conclusion
- Petrol prices in Pakistan are affected by a variety of factors, including the price of crude oil, exchange rate, and taxes and levies.
- These prices can have a significant impact on the economy and the daily life of citizens.
- It is important to understand these factors in order to fully grasp the situation and make informed decisions.