The government of Pakistan has decided to implement slight adjustments in the prices of petroleum products for the month of February 2019.
In a statement released on Thursday, it was revealed that the prices of several products would be affected, with petrol experiencing a reduction of Rs 0.59 per liter.
According to the statement, the government has opted to keep the price of High-Speed Diesel (HSD) unchanged at the current level. However, other petroleum products will witness marginal reductions. Petrol, Kerosene, and Light Diesel Oil (LDO) will see their prices decrease by Rs 0.59, Rs 0.73, and Rs 0.25 per liter, respectively.
The revised prices of petroleum products, effective from February 1 to February 28, 2019, are as follows:
1. Petrol: The price has been reduced from Rs 90.97 to Rs 90.38 per liter.
2. High-Speed Diesel (HSD): The price remains unchanged at Rs 106.68 per liter.
3. Kerosene Oil: The price has been reduced from Rs 82.98 to Rs 82.25 per liter.
4. Light Diesel Oil (LDO): The price has been reduced from Rs 75.28 to Rs 75.03 per liter.
These adjustments, while modest, are expected to have a positive impact on consumers’ pockets. The reduction in petrol prices, in particular, may provide some relief to motorists and individuals dependent on private transportation.
The decision to keep the price of High-Speed Diesel stable reflects the government’s strategy to maintain a balance, considering the critical role diesel plays in various sectors, especially transportation and industry.
The government’s move is in line with its commitment to ensure the availability of affordable energy to the public while managing the economic implications of global oil price fluctuations. It’s worth noting that global oil prices have been subject to volatility in recent months, influencing the decisions of oil-importing nations.
These adjustments are part of the government’s regular review of petroleum prices, which takes into account global market trends and domestic economic considerations. The government aims to strike a balance between providing relief to consumers and ensuring the sustainability of the energy sector.
The revised prices will come into effect on February 1, 2019, and will remain applicable throughout the month. The Ministry of Finance has urged consumers to adhere to these new prices and has assured that any future changes will be communicated transparently.
As citizens and businesses alike continue to navigate economic challenges, the government’s efforts to manage fuel prices responsibly are crucial in maintaining stability and promoting sustainable development in the country.
