Govt announces petroleum prices for the next fortnight

ISLAMABAD: Prime Minister Shehbaz Sharif has announced to keep the prices of petroleum products unchanged for the next fortnight in Pakistan, ARY News reported on Saturday.

According to details, the price of petrol is set at Rs255.63 per litre. Similarly, the high-speed diesel price is fixed at Rs258.64 per litre. Additionally, the price of kerosene oil remains unchanged at Rs168.12 per litre.

The decision came as part of regular adjustments in fuel prices, which are influenced by international market trends and local economic conditions.

In a statement, Prime Minister Shehbaz Sharif confirmed that petroleum product prices would remain unchanged, and the government has decided to transfer the financial benefits from fluctuations in oil prices to electricity consumers.

He pledged a significant relief package in power tariffs, which is expected to lead to a reduction in inflation.

Notably, global oil prices saw a significant drop, thanks to OPEC’s decision to go ahead with production increases starting in April, uncertainty over U.S. tariffs, and a bearish build in U.S. crude stocks.

Read More: Petrol pump dealers association calls off strike

Earlier, the Petrol Dealers Association announced that they will not go on strike across Pakistan starting tomorrow, ARY News reported

According to reports, the decision came after a meeting between the association’s delegation and Petroleum Minister Musadik Malik.

Following the discussions, the dealers decided to withdraw their strike plan.

The association stated that there would be no change in the profit margin for petrol pump dealers. The negotiations were also attended by the Chairman of OGRA and officials from the Petroleum Division.