Kerosene Oil Price In Pakistan Accurate List Today 2023

The kerosene oil price in Pakistan is an important economic factor that affects households, businesses and industries. Several factors, including global oil prices, government regulations, taxes and transportation costs determine this. The price of kerosene can vary over time due to these factors, affecting the affordability and accessibility of this fuel source for households and businesses nationwide. Monitoring kerosene prices is essential for individuals and organizations to plan their energy consumption and budget effectively.

Kerosene oil is derived from crude oil. Its composition is different from petroleum and has a lower density, which is why it floats on the surface of petroleum. Generally, it is used as fuel for heating stoves and in some industrial applications. The price of kerosene oil in Pakistan fluctuates due to high inflation.

Kerosene oil is refined from petroleum through a process called distillation. Chemically, it contains hydrocarbon molecules with 10 to 16 carbon atoms. Due to its lower density, it is used for heating and lighting lamps. It is also utilized as fuel for jet engines.

In the backward areas of Pakistan, people use it as fuel in stoves and also for lighting lamps (lanterns). It also powers some small petrol engines. Nowadays, its uses have been minimized.

Oil prices change every 15 days based on the suggestions of OGRA (Oil and Gas Regulatory Authority). The final decision regarding petroleum prices is made by the Prime Minister of Pakistan.

The price of kerosene oil in Pakistan is reviewed every 15 days. In the recent year 2022-2023, petroleum prices broke all previous records in Pakistani history. The fluctuation of oil prices in Pakistan is caused by multiple factors.

IMF Debt

Pakistan has to pay a significant amount of interest on the debt taken from neighboring countries. This would not be possible without the IMF loan scheme. Pakistan’s finance minister is obligated to follow the IMF’s instructions regarding the rates of all imported crude oil products. Every new government aims to provide relief in the form of subsidies, but the IMF intends to increase the rates. This is the primary reason for the high petroleum prices in Pakistan.

High Dollar Rate

Every democratic government of Pakistan attempts to complete its 5-year tenure without any long-term economic planning. This trend is the main cause of inflation. The Pakistani government has to pay dollars to purchase kerosene oil. Economic instability greatly impacts the value of the US Dollar ($). This financial crisis is responsible for the depreciation and devaluation of the Pakistani currency.

International Market Rates

Pakistan relies on crude oil-producing countries for its petroleum products. Periodic changes in the kerosene oil price in the international market directly impact the prices in Pakistan.

Petroleum prices change twice a month in Pakistan. Due to economic instability, inflation is on the rise. The rates of all imported materials depend on the price of the United States currency, the Dollar. If a stable democratic government comes into power in the near future, we can expect a further decrease in crude oil rates.

The refining process of kerosene oil is called distillation, where it is separated from crude oil based on its boiling point. Some important steps include:

Conclusion

Oil prices directly affect all market rates accordingly. The transportation of materials holds significant importance, as nothing can be transported from one place to another without petroleum products. It also impacts the carriage costs of construction materials. High Kerosene Oil Price In Pakistan not only increase the price of cement but also raise the price of imported paints and the prices of marble tiles.