Islamabad: The federal government has announced to maintain the prices of petroleum products for the next 15 days.
According to the notification issued in this regard, the price of petrol has been maintained at Rs 248 38 paise while the price of diesel has been maintained at Rs 255 14 paise per litre.
It should be remembered that on October 31, the government had announced new prices of petroleum products, in which the price of petrol was increased by Rs. 1.35 paisa and the price of high speed diesel was increased by Rs. 3.85 paisa per liter.
After the increase, the new price of petrol was Rs 248 38 paise per liter while the new price of high speed diesel was fixed at Rs 255 14 paise per litre.
The price of light diesel was reduced by Rs 2 61 paise per litre, after which its new price was Rs 147 51 paise per litre.
Similarly, kerosene was reduced by Rs 1 48 paise per liter and its new price was fixed at Rs 161 54 paise per litre.
Every 15 days the prices of petroleum products are revised by the government.
Pricing of petrol and diesel in Pakistan is a complex process involving many factors. Primarily, these prices are affected by crude oil prices in the world market, dollar exchange rate against the rupee, taxes and levies imposed by the government, and refining and marketing costs.
The increase in petrol and diesel prices has a negative impact on the common man and the economy. When prices rise, the cost of transportation increases, which increases inflation. It also increases costs for businesses, which can increase prices and reduce economic growth.
