No change in petrol, diesel prices

Despite a drop in international prices, the government on Wednesday left the prices of major petroleum products – petrol and high speed diesel (HSD) – unchanged for the next fortnight ending Dec 15. In reaching this decision, the government on the other hand, increased petroleum levy on HSD by Rs10 per litre to about Rs22.60 besides increasing the profit margins of oil marketing companies (OMCs) on the sales of both products. However, the government reduced the prices of two other inconsequential products — kerosene and light diesel oil (LDO) — by Rs10 and Rs7.50 per litre, respectively for the fortnight. The announcement for adjustments in prices of petrol, high-speed diesel, kerosene and light diesel was made by Finance Minister Ishaq Dar on national hookup through a pre-recorded message. He said the prices of petrol and diesel would be maintained at the existing position for the next 15 days, adding the HSD price had not changed in nearly two months.