Pakistan keeps petrol, diesel prices unchanged for next fortnight

Pakistan's government has decided to maintain current fuel prices for the next two weeks, keeping petrol at Rs299.5 per litre and high-speed diesel (HSD) at Rs311.47 per litre. This decision follows recent price reductions announced by Prime Minister Shehbaz Sharif, who had passed on the benefits of declining international oil prices to consumers.

Petrol, primarily used by private vehicles and two-wheelers, significantly impacts the middle and lower-middle classes. Similarly, diesel prices affect the broader public, as it fuels the heavy transport sector, power plants, and large generators. The government's move to stabilize prices aims to provide some relief amidst economic pressures.

Fuel prices in Pakistan have experienced considerable fluctuations this year. Following the energy crunch stemming from the US-Iran conflict and the Strait of Hormuz blockade, the government began revising prices weekly. An initial wartime revision on March 6 saw prices surge by Rs55 per litre. Prices reached their peak on April 3, with petrol hitting Rs458.4 and HSD reaching Rs520.35 per litre after substantial hikes. Amidst public backlash, Prime Minister Sharif later reduced petrol prices by slashing the petroleum levy.