Fuel prices unchanged despite drop in prices in International Market

Fuel prices in international market

The government has decided to keep fuel prices unchanged effective from December 1, 2021. Oil prices in the global market had witnessed a sharp decline of around $10 per barrel last Friday, following the outbreak of a new variant of Covid-19.

The government had hinted at slashing prices of petroleum products following the drop in international oil prices however it has decided to maintain existing fuel prices for the next two weeks.

With the decision of maintaining current prices, petrol will be sold at Rs145.82 per liter. Sui Southern Gas Company (SSGC) had recently announced the suspension of gas supply to CNG stations in Sindh and Balochistan, which will result in an increased demand for petrol, causing hike in the oil import bill.

High-speed diesel which is widely used in the transport and agriculture sectors would be available at the current price of Rs142.62 per liter.

Kerosene oil which is used in the remote areas of Pakistan as a substitute for Liquefied Petroleum Gas (LPG) has been maintained at Rs116.53 per liter for the next two weeks. The government has also maintained the current price of Light Diesel Oil (LDO) at Rs114.07 per liter.

Oil and Gas Regulatory Authority (Ogra) notified a reduction in the price of LPG by Rs14 per kilogram on Tuesday. This notification reduces the price of domestic LPG cylinders by Rs169 and commercial LPG cylinders by Rs650. The price of domestic cylinders has been reduced from Rs2,559 to Rs2,390 and commercial cylinders from Rs9,847 to Rs9,197.

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