Islamabad: The federal government has decided to keep the current prices of petroleum products effective until 27 July during which the prices of petrol, high speed diesel (HSD) and kerosene will not be changed till the next review. After this decision, consumers will be able to buy fuel only at the current prices.
The price of petrol has been kept at Rs 335.18 per litre, of high-speed diesel at Rs 383.46 per litre and of kerosene at Rs 301.14 per litre, sources said. The current rates are expected to stay until July 27, according to relevant authorities.
Due to the volatility in the prices of oil in global market, the prices of petroleum products keeps on changing in Pakistan on a continuous basis in recent days. In the last few days various announcements of hikes and slight devaluation of petrol and diesel prices have been made at various times and to the consumers new price had to be faced each day.
As per official announcement the petrol price rose by Rs 5.44 per litre and high speed diesel price rose by Rs 31.5 per litre on 18 July. Later, on 21st July, prices were announced late as it was due to the holidays in the global market and petrol was cut by 35 paise per litre while diesel was raised by Rs 5.71 per litre. Following this, the price of both products were again hiked on July 22nd, 23rd and 24th.
Experts have said that the prices in the future will be dependent on the world crude oil prices, value of rupees and import prices as well as government taxation policy. If there is a significant change in the global market, the prices of petroleum products may be revised again in the next review, however, according to the current announcement, the current rates will remain in effect until July 27.
We welcome your contributions to The Pakistan Observer. Submit your blogs, opinion pieces, press releases and news features to our editorial team.
Please send your submissions to our News Desk or Editorial team. We look forward to hearing from writers, journalists and contributors.
