Islamabad: Federal Government Announces No Change in Petroleum Prices for Next 15 Days.
The federal government has announced that petroleum prices will remain unchanged for 15 days.
According to the notification, the price of petrol will remain at Rs. 248.38 per liter, while high-speed diesel will stay at Rs. 255.14 per liter.
It is noteworthy that on October 31, the government increased petrol prices by Rs. 1.35 per liter and high-speed diesel by Rs. 3.85 per liter. Following this adjustment, the new price of petrol was set at Rs. 248.38 per liter, and high-speed diesel at Rs. 255.14 per liter.
The price of light diesel was reduced by Rs. 2.61 per liter, bringing it down to Rs. 147.51 per liter. Similarly, kerosene oil was decreased by Rs. 1.48 per liter, setting its new price at Rs. 161.54 per liter.
The government revises petroleum prices every 15 days.
In Pakistan, the determination of petrol and diesel prices is a complex process influenced by global crude oil rates, exchange rates, government-imposed taxes and levies, and refining and marketing costs.
Increased prices of petrol and diesel have negative effects on the common man and the economy. Higher prices raise transportation costs, contributing to inflation. This leads to increased business costs, driving up prices and potentially slowing economic growth.
