Govt keeps petrol price unchanged for next fortnight

ISLAMABAD: The caretaker government decided on Thursday to keep the petrol price unchanged at Rs281.34 per litre for the next fortnight — till December 15.

On November 15, the interim government reduced the petrol and diesel prices by Rs2.04 and Rs6.47 per litre, respectively.

According to a notification issued by the Finance Ministry, the high-speed diesel (HSD) has been slashed by Rs7 per litre while kerosene oil reduced by 3.82 per litre.

The light diesel oil has also been cut by Rs4.52.

Caretaker Prime Minister Anwaar-ul-Haq Kakar approved the new fuel prices which will be effective from Thursday midnight and remain in place till December 15.

The country fixes fuel prices on a fortnightly basis after evaluating fluctuating international energy market costs and the rupee-dollar parity to transfer the impact on domestic consumers.

On November 15, the interim government reduced the petrol and diesel prices by Rs2.04 and Rs6.47 per litre, respectively.

The government is charging zero general sales tax (GST) on all petroleum products while the rate of petroleum levy (PL) on petrol and diesel is Rs60 per litre.

Diesel is widely used in the transport and agriculture sectors and the reduction in its price could bring inflationary impact down.