Petrol price in Pakistan remains unchanged

ISLAMABAD: The caretaker government on Sunday announced that the prices of petrol will remain unchanged, for the next fortnight, ARY News reported.

The official notification of finance ministry said, “the government has decided to maintain the current prices of Petrol and High Speed Diesel (HSD) during the fortnight starting from 1st January 2024, as recommended by Oil and Gas Regulatory Authority(OGRA),” it said.

Accordingly, petrol would be available at current rate i.e. Rs.267.34 per liter whereas HSD would be sold at Rs.276.21 per liter.

Whereas, the prices of kerosene oil and light-diesel oil were reduced by Rs 2.19 and Rs1.11 per litre, respectively.

Last fortnight, the caretaker government reduced the prices of petrol and high-speed diesel (HSD) by Rs14 and Rs13.50 per litre, respectively.

According to a notification from the Ministry of Finance, the new prices of petrol and HSD were set at Rs267.34 and Rs276.21.

The new prices of petroleum products for the fortnight — from Dec 16 to Dec 31 — were recommended by the Oil and Gas Regulatory Authority (OGRA).

Meanwhile, the prices of kerosene oil and light-diesel oil were reduced by Rs10.14 and Rs11.29 per litre, respectively, to Rs191.02 and Rs164.64.

It is pertinent to mention here that the State Bank of Pakistan (SBP) forecasted in its annual report on the past fiscal year, that the inflation rate would ease to 20-22 per cent in the financial year 2023-24 (FY24) as the country heads into February 8 general elections.