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Prices of major petroleum products stay unchanged - Inside Financial Markets

Prices of major petroleum products stay unchanged

– Business Recorder

The government has decided to keep the prices of all major petroleum products unchanged for the next 15 days, reported Aaj News on Tuesday.

The price of petrol will remain Rs145.82 per litre while the price of high-speed diesel will stay at Rs142.62 per litre.

On Monday, Prime Minister Imran Khan directed the Ministry of Energy to carry out six months’ price projections for petroleum, Liquefied Petroleum Gas (LPG), Regasified-Liquefied Natural Gas (RLNG) and power and propose specific measures to absorb an increase in their prices, well-informed sources told Business Recorder.

These instructions have been issued to the Ministry of Energy at a time when it is under harsh criticism for not procuring RLNG, used in the power sector when its prices were lower in the international market.

The public is also criticising the government for the continuous increase in prices of POL prices. The projected increase in Petroleum Levy by Rs4 per month till it reaches the ceiling of Rs30 per litre as per agreement with the International Monetary Fund (IMF) will further attract criticism.

The price of LNG has also increased in the country. The new price of LPG per kg increased from Rs204 to Rs217. The new price of the LPG domestic cylinder increased from Rs2,404 to Rs2,559 and that of the commercial cylinder from Rs9,248 to Rs9,847 for November.

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)