The petrol price in Pakistan is reviewed after every 15 days. The current petrol price in Pakistan is effective from December 16, 2020. The petrol rate in Pakistan applies on all cities irrespective of cities or regions. Here you can check the rate for all petroleum products in Pakistan including high octane, kerosene oil, Euro 5, light speed diesel, and high speed diesel.
The word petroleum is the combination of two different words “petra” which means rock and “oleum” means “oil”. However, the petroleum in raw from is extracted from land or sea through the technique of distillation. The petroleum itself is just composed of crude oil but in the raw form it may possess different types of solid, liquid, and gaseous hydrocarbons.
History of Petroleum
In 347 AD, China became the first country to produce and utilize the petroleum. The first commercial of Canada became operational in 1858. However, at the beginning of 20th century, Russia became the leading producer of petroleum products. Now, most of the oil in our world is produced by three countries that are Unites States, Russia and Saudi Arabia. However, 80% of oil reserves are present in Middle East, where majority of the providers are Qatar, Iraq, Kuwait, Saudi Arabia and United Arab Emirates.
What are different types of fuels?
Several types of fuels are available in the market such as:
Liquefied Petroleum Gas (LPG)
Petrol Rate in Pakistan 2021
In Pakistan, OGRA or Oil and Gas Regulatory Authority is the sole authority to regulate the prices in the whole country. The petrol price in Pakistan 2020 faced both ups and downs. As rates are updated after every 15 days, it is expected that the petrol price in Pakistan 2021 will be higher than this year. On the other side, there are also several factors that influence the rate. The economic conditions, globally transformation in oil and gas and political instability significantly affect prices.