Inside Financial Markets
Gov’t absorbs upward cost fluctuation, keeps petrol, diesel prices unchanged - Inside Financial Markets

Gov’t absorbs upward cost fluctuation, keeps petrol, diesel prices unchanged

– Associated Press of Pakistan

The government on Monday decided not to enhance price of petrol and high speed diesel, which would continue to be sold at Rs111.90 per liter and Rs 116.08 per liter respectively for next fortnight till March 31st.

“The government has been absorbing the upward price fluctuation in International market in order to provide maximum relief to the end consumer,” said a press statement issued by the Finance Ministry.

It said that despite very limited fiscal space, the government had decided that the prices of petrol and high speed diesel would remain the same.

However, the statement added, as no Petroleum Levy (PL) was being charged on kerosene oil and light diesel oil, therefore their prices have been marginally increased by Rs3.42 per liter and Rs2.19 per liter respectively due to significant rise in the international prices of petroleum products.

The price of kerosene oil has been increased by Rs3.42 per liter, which now would be sold at Rs83.61 per liter against its sale at Rs80.19 whereas the price of light diesel oil has have been increased by Rs2.19 per liter from Rs79.23 to Rs81.42 per liter.

Syed Zaki Hussain

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)