The Petroleum Division, after consulting the Prime Minister, has issued a new notification of petroleum product prices for the next fortnight, according to which the public could not face any immediate relief.
According to the notification, the price of petrol has been maintained at Rs 253.17 per liter, while the price of high-speed diesel has been maintained at Rs 257.08 per liter.
Before this decision, there were reports that petrol and diesel are likely to become cheaper in Pakistan due to the decline in crude oil prices in the global market. It was estimated that the price of petrol could be reduced by Rs 4.59 per liter, while the price of diesel could be reduced by Rs 2.70 per liter.
Similarly, the prices of kerosene and light diesel oil were also expected to decrease, however, the government decided to maintain the prices contrary to all speculations.
According to economic experts, the government has avoided reducing prices keeping in mind the fiscal pressure and revenue targets. Experts say that although prices have come down in the global market, the exchange rate and tax structure have made it difficult for the government to reduce prices.
