Govt likely to keep petrol price unchanged for next fortnight

• Diesel price estimated to decrease by Rs2.11 per litre.
• Govt might make slight adjustments in next fortnight.
• Petrol price was decreased by Rs10 in last session.

ISLAMABAD: The government is likely to maintain the price of petrol from October 1, 2024, for the next fortnight as it has been worked out slightly upward by Rs0.11 per litre, The News reported on Saturday. 

Meanwhile, the price of high-speed diesel (HSD) is estimated to decrease by Rs2.11 per litre starting from October 1, 2024.

The government, however, may make slight adjustments in the next fortnight, beginning from October 16, 2024.

Previously, the prices of petrol were decreased by Rs10 per litre owing to a drop in fuel rates in the international market during the past fortnight.

“The Oil and Gas regulatory Authority (Ogra) has worked out the consumer prices of petroleum products, based on the price variations in the international market,” a statement released by the Finance Division read.

The government also reduced price of HSD from Rs262.75 to Rs249.69 after a reduction of Rs13.06 per litre.

Petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of those belonging to the middle and lower-middle classes, who primarily use petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.

Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.

The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.