Petroleum prices will be “kept where they are” for the final 15 days of January, according to Finance Minister Ishaq Dar, who was speaking to the media in Lahore about significant choices made by the ruling coalition.
He elaborated that “The cost of gasoline would stay the same at Rs214.80 a litre. The price of diesel, which is currently Rs227.80 a litre, will not change. The price of kerosene oil, which is currently Rs171.83 per litre, would also not change. Additionally, the price of light diesel oil (LDO), which is currently Rs179 per litre, will not alter for the next 15 days.”
To provide the general public with some respite, the administration declared earlier this month that it would keep the price of petroleum goods at its current level.
The government reduced the cost of gasoline and diesel by Rs. 10 and Rs. 7.5, respectively, on December 15.
On November 30, the cost of kerosene oil dropped by Rs 10, while the cost of light diesel oil decreased by Rs 7.5 per litre.
On Oct. 15, Oct. 30, and Nov. 15, the government had previously held the pricing of all petroleum products constant.
When petroleum product prices were last revised every two weeks, it was anticipated that the price of gasoline would increase by Rs. 8.98 per litre and the price of high-speed diesel (HSD) by Rs. 1.06 per litre.
An adjustment in the petroleum levy rate, according to insiders in the Petroleum Division, would allow the government to maintain prices at the present level for the period of January 16 to January 31.
Currently, consumers must pay the government a petroleum charge of Rs. 50 per litre for gasoline and Rs. 32.50 per litre for HSD. The sale of petroleum products, such as gasoline, high-strength diesel, and blending materials for high-octane fuel, kerosene oil, and light diesel oil, is not subject to the general sales tax.