The federal government has decided not to change the prices of petrol and high-speed diesel (HSD) for the upcoming fortnight starting from November 16, 2024.
Current Prices
- Petrol: Rs 248.38 per litre
- High-Speed Diesel (HSD): Rs 255.14 per litre
The decision was based on an assessment by the Oil and Gas Regulatory Authority (OGRA), which reviewed international market trends over the past two weeks. The prices have been maintained to provide stability amidst fluctuating global oil prices.
Previous Price Adjustments
In the last review, the government had made minor changes:
- Petrol: Increased by Rs 1.35 per litre
- HSD: Increased by Rs 3.85 per litre
However, prices for other petroleum products were reduced:
- Kerosene Oil: Decreased by Rs 1.48, now priced at Rs 161.54 per litre.
- Light-Diesel Oil: Reduced by Rs 2.61, now priced at Rs 147.51 per litre.
Market Implications
The government’s decision to maintain the prices for petrol and diesel aims to offer some relief to consumers amid rising inflation and economic challenges. However, the small decreases in kerosene and light-diesel oil prices may provide slight benefits for households and small businesses relying on these fuels.
With the upcoming fortnightly review scheduled for December 1, the government will likely continue monitoring international oil price trends to decide on any future adjustments.
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