Petrol, Diesel Prices
ISLAMABAD: The federal government has announced that the prices of petrol and high-speed diesel (HSD) will remain unchanged for the next fortnight, starting from November 16.
This decision comes after the Oil and Gas Regulatory Authority (OGRA) reviewed the price trends of petroleum products in the international market over the last two weeks.
According to a notification issued by the Finance Division, the prices of petrol and HSD will continue to be Rs248.38 and Rs255.14 per litre, respectively.
In the previous fortnight, the government had raised the prices of both petrol and diesel, with an increase of Rs1.35 per litre for petrol and Rs3.85 per litre for HSD.
Despite this, the government opted to reduce the prices of other petroleum products during the same period.
Specifically, the price of kerosene oil was cut by Rs1.48, bringing it down to Rs161.54 per litre, while light diesel oil saw a reduction of Rs2.61, dropping 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 commute of the middle and lower-middle classes.
For these segments of society, fluctuations in fuel prices have a direct impact on their household budgets. Higher petrol prices often lead to increased travel expenses, making it harder for these groups to manage their financial needs.
On the other hand, high-speed diesel is a key fuel for the transport sector, particularly for heavy goods vehicles, trucks, buses, trains, and agricultural machinery like tractors, tube wells, and threshers.
The price of HSD has a wider economic impact, as it contributes significantly to the cost of transporting goods, including food and vegetables.
As a result, any increase in the price of HSD tends to drive up the prices of essential goods, exacerbating inflation.
The government’s decision to keep petrol and diesel prices unchanged for the next fortnight aims to provide some relief to consumers, particularly in light of ongoing inflationary pressures in the country.
However, the high costs of fuel remain a significant concern for both the transport sector and consumers, especially those dependent on diesel for daily operations and agriculture.
