Oil prices in Pakistan lower than other countries in region

Oil prices in Pakistan lower than other countries in region

The present government has provided maximum relief to the people in the prices of petroleum products despite the financial difficulties and the rise in international oil prices and even now Pakistan has lower oil prices than other countries in the region.

According to sources in the Petroleum Division, the present government has been trying not to burden the people despite the rise in oil prices in the global market.

At present, as compare to Sri Lanka, Nepal, Bangladesh and other countries in the region Petroleum products are available cheaper in Pakistan. Petroleum prices in these countries range from 0. 0.83 to 1. 1.26 per litre, while in Pakistan petrol is available at 0. 0.70 per litre.

Petrol is priced at 0. 0.83 in Sri Lanka, 0. 0.95 in Nepal, 1. 1.05 in Bangladesh, 1. 1.26 in India, 1. 1.03 in China, 1. 1.70 in the UK and 64 1.64 per litre in Germany. In India, the price of petrol is revised on a daily basis, while in Pakistan, the price is fixed every 15 days, and even if the price of oil increase globally, the price of petroleum products in the country will not appreciate. Instead of raising prices, the government has adopted a policy of bearing the financial burden and even in the most unavoidable situation, the government transfers minimum increase to people.

In this regard, Pakistan ranks 18th out of 167 countries in the world in providing cheap petroleum products. Prime Minister Imran Khan also rejected the summary sent by OGRA for increasing the prices of petroleum products to provide relief to the people during the current fortnight. In this regard, OGRA proposed the increase in petrol price by Rs. 6-22 paise, which was not approved by the Prime Minister and the prices of petroleum products have been maintained.

The Pakistan Tehreek-e-Insaf (PTI) government has adopted a strategy of keeping the prices of petroleum products to a minimum in proportion to the prices of the previous governments to provide maximum relief to the people.