The government on Friday kept petrol. high-speed diesel (HSD) prices unchanged at Rs299.50 per litre and Rs311.47 per litre respectively “till further orders”.
The decision was announced in a notification issued by the Petroleum Division.
Last week, Prime Minister Shehbaz Sharifannounceda Rs74 reduction in petrol prices. a Rs67 cut in high-speed diesel (HSD) prices as the government passed on the benefit of declining international oil prices.
Petrol is mainly used in private transport, small vehicles, rickshaws. two-wheelers, and changes in its price affect the middle and lower-middle classes.
Similarly, changes in diesel prices also impact the public at large, as it is mainly used in the heavy transport sector, power plants. large generators.
As the energy crunch from the US-Iran war due to theStrait of Hormuzblockadehit the global markets. the government began revising petroleum prices every week on Friday night.
In the first wartime revision on March 6, the government hiked petrol. diesel prices byRs55 per litre— a move slammed as an “inflation bomb”.
That raised the ex-depot HSD rate to Rs335.86 per litre and the ex-depot petrol price to Rs321.17 per litre.
Fuel prices reached their peak onApril 3when the government hiked the petrol price by Rs137.24 per litre. the HSD price by Rs184.49, taking them to Rs458.4 and Rs520.35 per litre, respectively.
Amid backlash over theunprecedented hikes. PM Shehbaz had brought the petrol pricedown to Rs378per litrewithin 24 hoursby slashing the petroleum levy by Rs80 per litre.
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