Government keeps petrol and diesel prices unchanged for next fortnight

First Published 7 hours ago

3 Updates by 3 sources

The government on Friday kept the prices of petrol and high-speed diesel (HSD) unchanged for the upcoming fortnight, according to a notification from the Petroleum Division.

Petrol will continue to be sold at Rs299.5 per litre, and HSD will remain at Rs311.47 per litre.

This decision follows a significant reduction last week, when Prime Minister Shehbaz Sharif announced a Rs74 cut in petrol and a Rs67 cut in HSD prices to pass on the benefit of declining international oil prices.

The government had shifted to weekly price revisions after an energy crunch, stemming from the US-Iran war and the Strait of Hormuz blockade, affected global markets. The first wartime revision on March 6 saw a Rs55 per litre hike for both fuels, raising petrol to Rs321.17 and HSD to Rs335.86 per litre.

Prices peaked on April 3, when petrol was increased by Rs137.24 and HSD by Rs184.49, taking their rates to Rs458.4 and Rs520.35 per litre, respectively. Following a backlash, the prime minister intervened within 24 hours to bring the petrol price down to Rs378 by slashing the petroleum levy by Rs80 per litre.

Petrol is primarily used in private transport and two-wheelers, affecting the middle and lower-middle classes. Diesel is mainly used in heavy transport and power generation, impacting the wider public.

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