Petrol Prices to Remain Stable Until May 15th

Hi Everyone! I hope you are all doing well. Welcome back to another blog. This article will discuss the topic in detail Petrol Prices to Remain Stable Until May 15th”. The Pakistani government has announced that it will not increase petrol prices until May 15th, 2023, providing relief to the general public who anticipated a hike due to the global rise in oil prices. The decision to maintain prices was made to consider the financial burden on the masses and in light of the upcoming budget. This article will examine the decision’s rationales and its economic implications.

Petrol Prices to Remain Stable Until May 15th
Petrol Prices to Remain Stable Until May 15th

On Sunday, Finance Minister Ishaq Dar declared a reduction in the cost of high-speed diesel, while also confirming that there will be no petrol price modification for the next two weeks.

The Finance Minister announced that they would maintain the cost of petrol at Rs. 282 per liter while decreasing the price of high-speed diesel by Rs. 5 to bring it down to Rs. 288 per liter, according to the latest rates.

The government has announced a reduction of Rs. 10 per liter for both kerosene oil and light diesel oil. The government will set the new price for kerosene oil at Rs. 176.07 per liter, and adjust the price of light diesel oil to Rs. 164.68 per liter. This price reduction is a welcome relief for consumers who have been struggling with high fuel costs in recent months. The decision to decrease the prices of these two important fuels will have a positive impact on the overall economy by reducing transportation costs and easing the burden on the general public.

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During the previous fortnightly review of petroleum prices, the government made the decision to raise the price of petrol by Rs. 10 per liter. The government justified this increase by citing the rise in petroleum prices in the international market, as well as fluctuations in the exchange rate. It is important to note that this increase was implemented by the government.


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