In a rather short address, Finance Minister Ishaq Dar said the government will keep the prices of petrol and diesel unchanged till April 15.

“We were recommended an increase in the prices of petroleum products,” said Dar. “However, Prime Minister Shehbaz Sharif wanted to maintain these prices.”

He further announced a Rs10 per litre reduction in the prices of kerosene and light-speed diesel.

Earlier, it was reported that the government may announce a substantial reduction in ex-depot fuel prices up to Rs14 per litre based on the current petroleum levy (PL) and general sales tax (GST), with effect from April 1, 2023.

Oil marketing companies (OMCs) had estimated that a Rs3.50 per litre reduction could be expected in petrol prices. It was also likely that the price of high-speed diesel (HSD) could have come down by Rs14 per litre.