Islamabad( The COW News Digital) The government of Pakistan has announced revised prices for petroleum products, effective for the next 15 days. The latest adjustment reflects a mixed trend with petrol prices decreasing, while diesel prices have seen an increase.
According to the official notification issued by the Ministry of Finance, the price of petrol has been reduced by PKR 7.54 per liter. The new retail price of petrol is set at PKR 264.61 per liter. This reduction brings some relief to consumers amid ongoing economic challenges.
In contrast, the price of high-speed diesel has increased by PKR 1.48 per liter. The revised price for diesel is now PKR 285.83 per liter. This rise comes at a time when transportation and logistics sectors are already under pressure due to fluctuating fuel costs.
The government has maintained the current levy rates on these petroleum products. Petrol continues to carry a levy of PKR 77.01 per liter, while diesel is subject to a levy of PKR 78.02 per liter, as per the latest official notification.
These adjustments in fuel prices are part of the government’s ongoing policy to align local prices with international oil market trends while managing fiscal pressures. The bi-monthly price revision mechanism aims to balance consumer interests with the economic realities faced by the country.
The petroleum pricing decision is likely to impact various sectors, including transportation, manufacturing, and agriculture, where diesel is extensively used. While the reduction in petrol prices may ease costs for private vehicle owners, the increase in diesel prices could affect freight charges and ultimately consumer prices of goods.
Industry experts note that global crude oil price fluctuations, exchange rate dynamics, and government levies are key factors influencing these price changes. The government’s continued focus on transparent and timely pricing adjustments is seen as a positive step towards market stability.
Consumers and businesses are advised to prepare for the new prices and adjust their budgets accordingly. The government has emphasized that these prices will remain in effect for the next 15 days, after which another review will take place.
This move reflects the government’s attempt to manage inflationary pressures while ensuring the petroleum sector remains financially sustainable.
