ISLAMABAD (MNN); The federal government on Friday announced that the prices of petrol and high-speed diesel (HSD) will remain unchanged for the coming week, maintaining relief provided after last week’s substantial reduction in fuel prices.
According to a notification issued by the Petroleum Division, petrol will continue to be sold at Rs299.50 per litre, while the price of high-speed diesel will remain at Rs311.47 per litre.
The decision comes a week after Prime Minister Shehbaz Sharif announced a significant reduction in petroleum prices, lowering the price of petrol by Rs74 per litre and high-speed diesel by Rs67 per litre following a decline in international oil prices.
Petrol is widely used by private vehicle owners, motorcycles, rickshaws and small transport operators. Any change in its price directly affects the transportation costs and household budgets of middle- and lower-income families.
High-speed diesel, on the other hand, is primarily consumed by heavy transport vehicles, agricultural machinery, industrial units, power plants and large generators. Fluctuations in diesel prices have a direct impact on freight charges, food prices and overall inflation.
The government introduced a weekly petroleum price review mechanism after disruptions in global energy markets caused by the US-Iran conflict and the blockade of the Strait of Hormuz, replacing the previous fortnightly adjustment system.
During the first wartime price revision on March 6, petrol and diesel prices were increased by Rs55 per litre, a move that drew widespread criticism due to its inflationary impact.
Fuel prices later reached record highs on April 3, when petrol was increased by Rs137.24 per litre to Rs458.40, while high-speed diesel rose by Rs184.49 per litre to Rs520.35.
Following strong public criticism, Prime Minister Shehbaz Sharif reduced the petrol price to Rs378 per litre within 24 hours by significantly lowering the petroleum levy. Since then, with international crude oil prices easing, the government has gradually reduced fuel prices, bringing petrol below the Rs300-per-litre mark while keeping prices unchanged this week.
