The caretaker government announced on Tuesday its decision to maintain thecurrent prices of petrol and high-speed diesel (HSD) for the next two weeksdespite drop in international prices. This announcement was made through anotification from the Ministry of Finance. Accordingly, the prices ofpetrol and HSD will continue to stand at Rs283.38 and Rs303.18 per litre,respectively.
In contrast, the prices of kerosene oil and light-diesel oil have beenreduced by Rs3.82 and Rs3.4 per litre, bringing them down to Rs211.03 andRs189.46 per litre, respectively.
These developments were unexpected, as earlier sources had suggested apotential reduction in prices. Official sources had indicated that HSD’sprice might decrease by about Rs5-6 per litre, potentially falling belowRs300 per litre, unless the caretaker government chose to increase thepetroleum levy. On the other hand, petrol was anticipated to become cheaperby approximately Rs18 per litre.
Read Top Stories
These price adjustments can be attributed to several factors, including therecent gain of about Rs3 in the value of the rupee against the dollar overthe past two weeks. Additionally, the average price of diesel has decreasedby approximately $1.3 per barrel, while the price of petrol has risen byabout $3.5 per barrel during this period.