ISLAMABAD: The federal government on Friday decided to maintain the prices of petrol and high-speed diesel (HSD) at their existing levels of Rs299.50 per litre and Rs311.47 per litre, respectively, until further orders.
The decision was announced through a notification issued by the Petroleum Division, providing temporary relief to consumers amid continued uncertainty in global energy markets.
The move follows last week’s substantial reduction in fuel prices, when Prime Minister Shehbaz Sharif announced a Rs74 per litre cut in petrol prices and a Rs67 per litre reduction in HSD prices, passing on the benefit of declining international oil prices to consumers.
Petrol is primarily used by private vehicles, motorcycles, rickshaws and other light transport, making its price particularly significant for middle- and lower-income households. High-speed diesel, meanwhile, is the primary fuel for heavy transport, agricultural machinery, power plants and industrial generators, meaning any change in its price has a broader impact on inflation and the overall economy.
The government shifted to weekly fuel price revisions every Friday after volatility in global oil markets intensified due to geopolitical tensions arising from the US-Iran conflict and concerns over shipping through the Strait of Hormuz.
The first wartime revision, announced on March 6, increased petrol and diesel prices by Rs55 per litre, pushing petrol to Rs321.17 per litre and HSD to Rs335.86 per litre. The decision was widely criticized for adding to inflationary pressures.
Fuel prices later reached record highs on April 3, when petrol was increased by Rs137.24 per litre and HSD by Rs184.49 per litre, taking their prices to Rs458.40 and Rs520.35 per litre, respectively.
Following strong public criticism, Prime Minister Shehbaz Sharif announced an immediate reduction, lowering the petrol price to Rs378 per litre within 24 hours by reducing the petroleum levy by Rs80 per litre.
The latest decision to keep fuel prices unchanged reflects the government’s cautious approach as it continues to monitor international oil prices and geopolitical developments before making further adjustments.
