Petrol prices remain unchanged for the next fortnight.

Islamabad: The federal government on Sunday announced to maintain the price of petrol till December 31.

According to a statement issued by the Finance Division, the price of petrol will remain at Rs 252.10 per liter for the next fortnight.

However, the government announced a reduction in the price of high-speed diesel by Rs 3.05 per liter to Rs 255.38.

Similarly, the prices of kerosene and light diesel were reduced by Rs 3 32 paise and Rs 2 78 paise to Rs 161.66 per liter and Rs 148.95 per litre, respectively.

“The Oil and Gas Regulatory Authority (Ogra) has fixed the consumer prices of petroleum products in view of the fluctuations in the international market in the last fortnight,” a notification issued by the finance division said.

These adjustments are based on the first 15 days of the current month, reflecting international market volatility due to the recent regime change in Syria.

Currently, crude oil and POL products are available in abundance in the international market, but the demand is low.

In the last fortnight review, the federal government had increased the price of petrol by 3 rupees 72 paise per litre. Petrol price increased from Rs 248.38 to Rs 252.10 per litre. HSD price also increased by Rs 3.29 to Rs 258.43 per liter from Rs 255.14 per litre.

Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers. High fuel prices significantly affect the budgets of members of the middle and lower middle class, who mainly use petrol for travel.

On the other hand, a large part of the transport sector relies on high-speed diesel. Its price is considered inflationary as it is primarily used in heavy goods vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tubewells, and threshers.

High consumption of diesel leads to increase in prices especially of vegetables and other food items.