Friday, May 24, 2024

Ishaq Dar Announces to Keep Petrol Prices Unchanged in Pakistan

Ishaq Dar, the finance minister, declared on Sunday that the price of petrol would stay at Rs282 per litre for the upcoming two weeks while the price of high-speed diesel was decreased by Rs5 per litre to Rs288.

In a video address today, the finance minister announced that the prices of light-diesel oil and kerosene were being reduced by Rs10 to Rs164.68 and 176.07 per litre, respectively.

Dar claimed that, following the Oil and Gas Regulatory Authority’s proposal, the finance ministry had done everything possible to resolve the issue of price adjustments in the country’s favour. He claimed that following “many rounds” of deliberation, the final price modifications were decided.

Between April 1 and 15, the nation used almost 20,000 tonnes of petrol everyday and 15,500 tonnes of high-speed diesel.

According to estimates, between 8,000 and 10,000 tonnes of high-speed diesel were being smuggled into Pakistan every day, while Iranian petrol was less in demand due to its marginally inferior quality and the overall decline in demand for fuel.

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