Karachi: The federal government has announced new prices of petroleum products for the next week, providing partial relief to the public in the form of a reduction in the price of petrol, while the price of high-speed diesel has been maintained at the current level.
According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs 4 per litre. After this decision, the new price of petrol has been fixed at Rs 377.78 per litre across the country. On the other hand, there has been no change in the price of high-speed diesel, and it has been maintained at Rs 380.78 per litre.
According to the government announcement, the new prices will be implemented after 12 midnight tonight, after which all petrol pumps across the country will be obliged to sell according to the new prices.
According to experts, the recent reduction in the price of petrol has been made in the context of limited changes in crude oil prices and import costs in the global market. Although the reduction is not large, the decision will provide some financial relief to millions of daily commuters and private vehicle owners.
Economic observers say that the government’s aim in maintaining the price of diesel is to avoid additional burden on the transport, agriculture and industrial sectors, as diesel is an important fuel in Pakistan’s economy.
It should be remembered that the prices of petroleum products in the country are determined by taking into account international crude oil prices, the value of the rupee, taxes and import costs. The government will also keep a close eye on developments in the global energy market over the coming week.
Analysts say that if crude oil prices continue to decline further in the global market, consumers may be able to get more relief in the coming weeks, but this will depend on international market trends and local fiscal policies.
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