ISLAMABAD: The federal government has maintained prices of petrol and high-speed diesel (HSD) for the next fortnight, starting from November 16.
“The Oil (and) Gas Regulatory Authority has fixed the prices of petroleum products for the next fortnight based on the price movement in the international market over the last two weeks,” said a notification issued by the Finance Division.
The prices of petrol and HSD will remain at Rs248.38 and Rs255.14 per liter respectively.
In the last fortnight, the government increased the price of petrol and diesel by Rs 1.35 and HSD by Rs 3.85 per liter respectively.
However, the prices of other petroleum products have been reduced.
The price of kerosene was reduced to Rs 161.54, down by Rs 1.48 from Rs 163.02 per litre. Similarly, the price of light diesel has also been reduced by Rs 2.61 from Rs 150.12 to Rs 147.51 per litre.
Gasoline is mainly used in private transport, small vehicles, rickshaws and two-wheelers. Rising fuel prices have a significant impact on the budgets of members of the middle and lower classes, who mainly consume gasoline for their commute. On the other hand, a significant portion of the transportation sector relies on high-speed diesel.
Its price is considered inflationary as it is mainly used in heavy goods vehicles, trucks, buses, trains and agricultural machinery such as tractors, tube wells and threshers.
High-speed diesel consumption is particularly contributing to the rise in prices of vegetables and other food items.