Petrol price unlikely to decline

Islamabad: Prices of major petroleum products are estimated to drop by up to Rs3.5 per litre later this week because of international trend and currency stabilisation, but the government is unwilling to pass on the relief to consumers.

A government official said prices of petroleum products would remain unchanged.

He said the exchange rate has stabilised at an average of Rs105.63 per dollar from Rs109 in November and international prices have also dropped by 2-3 per cent over the past week.

He said the government had not increased oil prices for the past two months and it would absorb savings this month instead of passing on the relief to consumers.