ISLAMABAD: The government of Pakistan has issued a notification announcing changes in petrol prices and other petroleum products, media reported.
According to the notification, the government has announced new petroleum prices, keeping petrol unchanged at Rs263.45 per litre while reducing high-speed diesel by Rs14 to Rs265.65 per litre.
Earlier, a substantial decrease in petroleum prices, potentially up to Rs11.85 per litre, was expected to take effect from December 16, according to sources who cited initial workings for petroleum goods.
The largest decline was expected in the price of High-Speed Diesel (HSD). Sources suggested a cut of Rs11.85 per litre, which would have brought the new diesel price down to approximately Rs270.80 per litre.
Meanwhile, the price of Kerosene Oil was likely to be reduced by Rs11.70 per litre, while Light Diesel Oil (LDO) prices were projected to decline by Rs10.10 per litre.
Following these reductions, the new price for Kerosene Oil would have become approximately Rs181.16 per litre, and Light Diesel Oil Rs153.76 per litre.
The smallest decrease was expected in Petrol (Motor Spirit) prices, which were projected to fall by Rs0.36 per litre.
The Oil and Gas Regulatory Authority (OGRA) was to send the final working on petroleum prices to the Finance Ministry on December 15.
The Petroleum Division was set to announce the new prices for the next fortnight after approval from the Prime Minister.
In the previous fortnightly review, the government of Pakistan had announced a reduction in petroleum prices, providing relief to consumers amid rising fuel costs.
Petrol prices had been reduced by Rs2 per litre, bringing the new petrol price to Rs263.45 per litre, while high-speed diesel had been cut by Rs4.79 per litre, taking its revised price to Rs279.65 per litre.
This adjustment in petrol prices came as part of the government’s routine fortnightly review aimed at easing the burden on motorists and transporters.
Officials had said petrol prices would continue to be monitored closely in the coming weeks, particularly as international oil markets remained volatile.
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