Finance Minister Ishaq Dar announced in a televised address that the federal government has decided to keep fuel prices unchanged for the upcoming fortnight.
This decision was made in consideration of international rates, despite slight increases in global crude oil and gas prices in recent days.
Fuel Prices
Ishaq Dar emphasized that the government had already reduced diesel and petrol prices by Rs35 and Rs20 respectively over the past 30 days. These reduced prices will remain in effect until June 30.
Read More: Govt Reduces Petrol Prices, Eases Burden on Pakistanis
Earlier on May 31, the federal government had reduced petroleum product prices by up to Rs8 per litre. Petrol prices were decreased to Rs262 per litre, while diesel prices saw a reduction to Rs253 per litre.
Government Decision
The government’s decision to maintain current fuel prices comes amid mounting pressure caused by previous record-high petrol prices of Rs282 per litre and soaring inflation, which is currently the highest in the region.
While the recent decline in global oil prices has provided some relief, the government continues to face challenges in keeping prices stable due to the depreciation of the rupee.