Fuel prices to remain unchanged

Prices of petrol and High Speed Diesel (HSD) will persist at Rs267.34 and Rs276.21 per litre, respectively

ISLAMABAD:

The government has decided to keep the current prices of petrol and high-speed diesel (HSD) unchanged from January 1 till January 15 this year, the finance ministry notified on Sunday.

The notification added that decision had been made on the recommendation of the Oil and Gas Regulatory Authority (Ogra).

The prices of petrol and HSD will remain at Rs267.34 and Rs276.21 per litre, respectively.
Ogra has made the recommendation keeping in view the international oil prices.

The measure is aimed to mitigate potential financial burdens on consumers and maintain a stable economic environment, especially during this transitional period.

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The calculations made by Ogra were largely based on a marginal increase in the prices of Brent crude and a slight drop in the Arab Gulf basket rates amid threats to shipping routes because of the Israeli war on Gaza.

An official of one of the oil marketing companies (OMCs) said some tanker operators had stopped sending their vessels through the Red Sea to avoid the threat of drone and missile attacks in that region by the Houthi rebels of Yemen.

The notification did not specify any adjustments to the prices of kerosene and light diesel oil, leaving consumers in anticipation of further announcements or modifications in the near future.