Overview
There is an impact on petrol prices in Pakistan even though prices went down in the global market. The fortnight decision of petrol price change announces and the Federal government decided to remain petrol and diesel price for next fortnight.
As per the previous report, we are expecting a reduction in petrol and diesel prices by up to Rs. 20/Liter is not applied. Meanwhile, Kerosene Oil and Light Diesel Oil prices dropped. Kerosene Oil and Light Diesel Oil price are reduced by Rs. 10/liter.
Current Petrol Prices
Finance Ministry stated that the government has decided to make no change in the petrol and diesel prices. However, after reducing the Kerosene and Light Diesel Oil price by Rs. 10/liter new prices are Rs. 180.29 and Rs. 174.68. Due to the unchanged in Diesel and Petrol, you can buy at the current rate. Petrol’s current price is Rs. 272/liter and diesel are Rs. 293/liter.
The Government has decided to keep the existing prices of MS(Petrol) and High Speed Diesel unchanged and decrease Rs.10/- in the prices of Kerosene Oil and Light Diesel Oil, from 1st April,2023 to 15th April, 2023. pic.twitter.com/SYPy6uk2Jt
— Ministry of Finance, Government of Pakistan (@Financegovpk) March 31, 2023
The government has not noticed the suggestion of the Oil and Gas Regulatory Authority regarding the reduction in petroleum product prices by Rs 15/liter.
Conclusion
Petrol prices are reduce in the international market. But due to the exchange rate government is unable to reduce petrol prices in Pakistan. There is no change will happen in petroleum product prices for next fortnight. International purchases counted in dollar currency. Meanwhile, the recent devaluation of the rupee against the dollar makes a hurdle for the government to control massive losses in exchange rates.
