Petrol prices unchanged, diesel slashed for next fortnight
In its first fuel price revision announcement, the newly elected government on Friday maintained the price of petrol but slashed diesel for the next fortnight. In an announcement before midnight, the Ministry of Finance said the new price of diesel would go into effect on March 16, as recommended by the Oil and Gas Regulatory Authority (Ogra). The price of petrol remains Rs279.75 per litre, while the price of high-speed diesel has been decreased by Rs1.77 to Rs285.56 per litre. Previously, informed sources said the petroleum prices were estimated to generally remain stable as the premium on petrol import had increased to $12.15 per barrel from $10.45 in February but exchange rate and international product prices remained range bound. The premium on the import of high-speed diesel (HSD) has remained unchanged at $6.50 per barrel.