Fuel prices remain unchanged for this fortnight

Price of petrol will remain at Rs224.80 per litre and diesel at Rs235.30 per litre, says finance minister

ISLAMABAD:

Fuel prices would remain unchanged for the second fortnight of the current month, Finance Minister Ishaq Dar announced on Tuesday.

Dar told a press conference that the government had decided not to make any changes in the current prices of petroleum products for the next 15 days.

Accordingly, the price of high-speed diesel had been maintained at Rs235.30 per litre, petrol at Rs224.80 per litre, kerosene oil at Rs191.83 per litre and light diesel at Rs186.50 per litre.

Petrol is an alternative to compressed natural gas (CNG), especially in Punjab. High-speed diesel is normally used in the transport and agriculture sectors. Therefore, any revision in its price would have a direct impact on the consumers.

Kerosene oil is used for cooking purposes in those areas of northern parts where liquefied petroleum gas (LPG) was not available. The Pakistan Army also used kerosene oil in northern parts of the country

Petroleum products have been an easy source of generating revenue for the government. At present, the government is collecting an Rs50 per litre petroleum levy (PL) on petrol and Rs50 per litre on high octane blending components (HOBC).

The government was expected to increase the petroleum products price by Rs3 to 4 per litre.

The pricing trend for the ex-refinery had been negative around Rs1.6 per litre on petrol and Rs3 per litre on HSD. This price was without any exchange rate loss adjustment and there was an expected adjustment of Rs 4 per litre in HSD.