Govt maintains petrol, diesel prices for next fortnight

ISLAMABAD: The federal government has maintained the prices of petrol and high-speed diesel (HSD) for the next fortnight, starting from November 16. 

“The Oil [and] Gas Regulatory Authority has worked out the prices of petroleum products for the next fortnight based on the price trends in the international market during the last two weeks,” stated a notification issued by Finance Division.

The prices of petrol and HSD will remain at Rs248.38 and Rs255.14 per litre, respectively. 

In the last fortnight, the government increased the price of petrol and diesel by Rs1.35 and HSD by Rs3.85 per litre, respectively.

However, the prices of other petroleum products were reduced.

The price of kerosene oil was reduced to Rs161.54, down by Rs1.48 from Rs163.02 per litre. Likewise, the price of light-diesel oil was also reduced by Rs2.61 from Rs150.12 to Rs147.51 per litre.

Petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of the members of the middle and lower-middle classes, who primarily consume petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.

Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.

The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.