The federal government has decided against changing the prices of petroleum products until July 27, which means there will be no hike in petrol, high-speed diesel (HSD) and kerosene prices till the next review. According to government sources, the current prices will continue to be in force.
Sources quoted say petrol will be priced at Rs 335.18 per litre, high-speed diesel at Rs 383.46 per litre and kerosene at Rs 301.14 per litre. The relevant authorities say that the current rates will continue to be applicable till July 27, after which a decision will be taken keeping in mind the global market trends and other economic factors.
The prices of petroleum products in the country have been continuously under review in recent days in view of the trend of the crude oil prices in the world market. Petrol and diesel prices have been observed to rise from time to time in the last week, and in one week, the petrol price was slightly lowered.
Experts in the market believe that factors such as the price of crude oil on the international market, the rupee rate and import prices and taxes will be significant in determining prices in the future. If there is a considerable change in the international market oil price, then the prices of oil products can also be changed at the local level in the next review of oil prices. The government signalled short-term stability to the market and consumers through maintaining the existing rates.
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