Petroleum prices to stay unchanged for next fortnight: Ishaq Dar

Finance Minister Ishaq Dar on Tuesday announced that there would be no change in the prices of petroleum products for the next fortnight.

“The government has decided, after permission from Prime Minister Shehbaz Sharif, that there will be no increase in any petroleum products," he said in a press conference in Islamabad.

"All the items, petrol, diesel, light diesel oil and kerosene […] their prices will remain unchanged from Nov 16 to Nov 30.”

The price of petrol will remain at Rs224.80 per litre while the price of high-speed diesel will stay at Rs235.30 per litre.

Earlier, the oil prices were kept unchanged for the November 1-15 fortnight.

It was expected that the government may likely adjust the prices of petroleum products in petroleum levy (PL) which the government committed with the International Monetary Fund to increase each month.

POL products’ prices may be adjusted in PL

Sources in the petroleum sector said for the ex-refinery, the pricing trend is slightly negative: around Rs1.6 per litre on petrol and Rs3 per litre on high-speed diesel (HSD).

“However this price is without any exchange rate loss adjustment and there is some Rs4 per litre adjustment expected in HSD price, as the government skipped the adjustment last time”, sources said.