ISLAMABAD: The federal government has decided to keep fuel prices unchanged for the next fortnight, according to a notification issued by the Finance Division. This decision is based on the price trends of petroleum products in the international market during the last two weeks, as calculated by the Oil and Gas Regulatory Authority (OGRA).
According to the notification, the fuel prices of petrol and High-Speed Diesel (HSD) will remain at Rs248.38 and Rs255.14 per litre, respectively. In the last fortnight, the government had raised the price of petrol by Rs1.35 per litre and HSD by Rs3.85 per litre. Despite this increase, the prices of other petroleum products have been reduced.
Kerosene oil has seen a price drop, now priced at Rs161.54 per litre, a reduction of Rs1.48 from the previous price of Rs163.02. Similarly, the price of light-diesel oil has been lowered by Rs2.61, bringing it down from Rs150.12 to Rs147.51 per litre.
Petrol, which is primarily used in private transportation, small vehicles, rickshaws, and two-wheelers, plays a crucial role in the daily lives of the middle and lower-middle classes. Any fluctuation in petrol prices directly impacts their budgets, especially for those who rely on petrol for commuting.
High-Speed Diesel, on the other hand, is a key fuel in the transport sector, especially for heavy goods vehicles, trucks, buses, trains, and agricultural machinery like tractors and tube wells. The cost of HSD is particularly significant in the agricultural sector, as it contributes to the rising prices of vegetables and other food items. The increase in the cost of HSD is often seen as inflationary, as it affects the transportation of goods and produce across the country.
The government’s decision to maintain the current fuel prices for the next fortnight is aimed at providing some stability to the market, particularly for sectors reliant on petroleum products for their operations. However, the impact of fuel price changes on daily living costs remains a point of concern for many citizens, especially in times of economic uncertainty.
