The federal government has announced that the prices of petroleum products will remain unchanged for the next 15 days, according to a statement made by Finance Minister Ishaq Dar during a press conference in Islamabad.
Minister Dar confirmed that the current prices will continue to be in effect until June 30. He highlighted that in the previous two rounds, there were significant reductions in the prices of petroleum products, with a reduction of Rs35 in high-speed diesel tariffs and Rs20 in petrol prices.
Explaining the decision to keep the prices unchanged, the minister noted a slight increase in international market prices for petroleum products from June 1 to June 15. As a result, the government opted to maintain the existing prices.
Petrol is primarily used in motorbikes and small cars, serving as an alternative to compressed natural gas (CNG). High-speed diesel (HSD) finds widespread usage in the agriculture and transport sectors, while the low-speed diesel oil (LDO) is commonly used in industries. The reduction in HSD prices is expected to benefit farmers and potentially lead to a decrease in transportation costs for goods.
Kerosene oil is utilized in remote areas of Pakistan, particularly in the northern regions where liquefied petroleum gas (LPG) is not readily available for cooking purposes. The military also relies on kerosene oil in the northern parts of the country.
By maintaining the current prices of petroleum products, the government aims to provide stability and relief to consumers while considering the dynamics of the international market.
That’s fantastic news for all gasoline-powered automobiles.