- Global oil prices: The price of petrol in Pakistan is largely determined by the price of crude oil on the global market. When global oil prices go up, petrol prices in Pakistan go up as well.
- Exchange rate: The exchange rate between the Pakistani rupee (PKR) and the US dollar (USD) also affects petrol prices. When the PKR weakens against the USD, petrol prices in Pakistan go up, as Pakistan imports oil in USD.
- Government taxes and levies: The government of Pakistan imposes a number of taxes and levies on petrol, which adds to the cost for consumers.
- Domestic supply and demand:Â Domestic supply and demand for petrol can also affect prices. If demand exceeds supply, prices are likely to rise.
New information:
- Pakistan has recently adopted the Euro V emission standards, which means that petrol sold in Pakistan must now meet stricter environmental standards. This has led to some increase in petrol prices, as oil companies have had to invest in new equipment and technologies to comply with the new standards.
- Pakistan is also heavily reliant on imported oil, which means that it is vulnerable to fluctuations in global oil prices.
- New Price of Petrol : 283.38 PKR
Conclusion:
Petrol prices in Pakistan are affected by a number of factors, both internal and external. Consumers should be aware of these factors so that they can make informed decisions about their fuel consumption
