There are a number of factors that influence the prices of diesel which we discuss below.
#Diesel fuel price vs kerosene drivers
The UK has been confirmed to be one of the most expensive countries to buy petrol, so it’s no surprise that diesel drivers are also burdened by heightened fuel prices. The top 10 most expensive countries for diesel Rank The top 10 cheapest countries for diesel Rank Derv was the cheapest in Iran at 6p per litre, which was 418% cheaper than Zimbabwe who has the most expensive diesel prices at £2.51 per litre. When looking at the price of diesel across the globe, we discovered a stark contrast in price. The PTI-led government had given a commitment to IMF for Rs4 per litre increase in PL in December last year on the first day of every month to a maximum of Rs30 per liter, but reversed it on February 28.Using data from, we conducted research and found that following 10 weeks of continual price rises of countries that fuel prices are tracked, the UK is the 9 th most expensive country when it comes to purchasing diesel, ranking 155 th out of 163 countries. The government is also charging about Rs20 per litre custom duty on petrol and HSD. until June 30.Īfter initial indecision, the PML-N led coalition has been increasing petroleum prices since May 15 under the IMF deal.Īt present, the GST is zero on all the key products including petrol, HSD, kerosene and LDO against 17pc normal GST. The petroleum levy had come to an end after the March 1 price revision as international prices were going up and the PTI government had decided to not only reduce petroleum prices by Rs10 per litre but also froze it for next four months i.e. Under the deal with the International Monetary Fund (IMF), the government has to gradually increase PDL on oil products to a maximum of Rs50 to collect Rs 855 billion during the current fiscal year. Similarly, the ex-depot price of LDO went up to Rs226.15 on July 1, up 80pc from Rs125.56 per litre on May 26, up by about Rs100.59 per litre. Likewise, the ex-depot price of kerosene had gone up to Rs230.26 per liter, up by 95pc between May 26 and July 1. That was the first time the PMLN-led coalition government reduced petroleum prices after it came to power in the second week of April.īetween May 26 and July 1, the petrol price had risen by 66pc, or Rs99 per litre, while HSD price went up by 92pc since May 26 from Rs144.15 per liter, up by 132.39 per liter. Earlier on July 14, Prime Minister Shehbaz Sharif had announced a reduction of Rs18 to 40 per litre in the prices of various products as international prices have gone down. On August 1, the government had increased the price of HSD and kerosene by Rs9 and Rs5 per litre and reduced those of petrol by Rs3 per litre. Read: New govt pays big price to placate IMF The government is charging a petroleum development levy of Rs20 per litre on petrol and Rs10 each on HSD, kerosene and light diesel oil (LDO) in line with commitment with the international Monetary fund. Likewise, the ex-depot rate of kerosene was cut to Rs199.40 per litre from Rs201.07 per litre, down by Rs1.67 per liter, or 0.8pc. On the other hand, the ex-depot price of HSD was set at Rs244.44 per litre, down from Rs244.95 per litre at present, with a notional cut of 51 paisa, or 0.2pc. The price of light diesel oil inched up by an inconsequential 43 paisa per litre to Rs191.75 per litre from Rs191.32 at present. “In the wake of fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices of petroleum products to pass on the impact to consumers”, said the ministry of finance.Īs such, the ex-depot price of petrol was raised to Rs233.91 from Rs227.19, showing an increase of Rs6.72 per litre, or 3pc. On the other hand, the prices of high speed diesel (HSD) and kerosene were cut by 51 paisa and Rs1.67 per litre respectively.
ISLAMABAD: The government raised the price of petrol and reduced those of high speed diesel (HSD) and kerosene on Monday for the next fortnight.Īccording to an announcement by the ministry of finance, the rate of petrol and light diesel oil (LDO) was increased by Rs6.72 and 43 paisa per litre, respectively.
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