• The petrol diesel prices will continue to remain unchanged until June 30, as stated by Dar.
• Contrary to media reports suggesting a decline in prices, the finance minister has rejected such claims.
• This decision was made due to a slight upsurge in international prices.
In a televised address on Thursday, Finance Minister Ishaq Dar announced that the federal government has made the decision to keep the Petrol Diesel Prices unchanged for the upcoming two weeks. Dar firmly rejected the media reports surrounding the fuel prices and emphasized that the decision was based on the evaluation of international rates.
Petrol Diesel Prices Unchanged
According to the finance minister, there has been a marginal rise in international crude oil and gas prices over the past few days. He further stated that the government has implemented a cumulative reduction of Rs35 and Rs20 in the Petrol Diesel Prices, respectively, within the last 30 days.
However, it should be noted that the price of light diesel oil will experience an increase of Rs2.52 and will stand at Rs150.20 per litre starting from tomorrow.
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The finance minister further affirmed that the same prices will remain effective until June 30. In the previous review conducted on May 31, the federal government took the initiative to decrease the prices of petroleum products by up to Rs8 per litre. As a result, the price of petrol was reduced to Rs262 per litre following an Rs8 cut, while diesel witnessed a reduction of Rs5, bringing it down to Rs253 per litre.
This announcement by the government comes at a time when it is facing mounting pressure due to the escalating petrol prices, which reached an all-time high of Rs282 per litre earlier this year. Additionally, inflation in the region has surged and currently stands as the highest.
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While the recent decline in global oil prices has provided some relief, the government continues to face challenges in maintaining lower prices amidst the depreciation of the rupee.