On Thursday, the interim federal administration resolved to keep the price of petrol at Rs. 281.34 per litre for the upcoming two weeks, or until December 15.
Petrol Price Remain Unchanged But HSD Decreased by Rs. 7/Liter
On the other hand, kerosene oil decreased by Rs. 3.82 per litre, while high-speed diesel (HSD) has trimmed by Rs. 7.
There has also a reduction of Rs. 4.52 per liter in light diesel oil.
Anwaar-ul-Haq Kakar, the caretaker PM, approved the new fuel rates, which went into effect at midnight on Thursday and stay in effect until December 15.
| Products | Existing price | New price | Increase/Decrease |
| Petrol | Rs. 283.38 | Rs. 281.34 | Rs. 0 |
| High Speed Diesel (HSD) | Rs. 296.71 | Rs. 289.71 | Rs. 7 |
| Kerosene oil | Rs. 204.98 | Rs. 201.16 | Rs. 3.82 |
| Light diesel oil | Rs. 180.45 | Rs. 175.93 | Rs. 4.52 |
After assessing the impact on domestic customers of shifting international energy market costs and the rupee-dollar parity, the nation fixes fuel prices every two weeks.
The prices of petrol and diesel lowered by Rs. 2.04 and Rs. 6.47 per liter, respectively, on November 15 by the interim administration.
However, the petroleum levy (PL) on gasoline and diesel is Rs. 60 per litre.
Whereas the government charges no general sales tax (GST) on any petroleum goods.
Since diesel is widely utilized in both the transportation and agricultural industries, its price decline may have a moderating effect on inflation.
Increase in Inflation
Brokerage forecasts that were made public on Wednesday state that November is predicted to see a sharp increase in inflation, mostly as a result of higher petrol costs.
November’s consumer price index (CPI), which tracks changes in the cost of goods and services, is predicted to increase from 26.9% in October to 28.6-29.6% year over year.
According to a research by brokerage Insight Securities, the inflation rate will rise by 2.1% from month to month, despite earlier projections that it would gradually decline starting in September.
CPI Measure
According to Optimus Capital Management, the housing index will rise by 11.6% as a result of the revision of gas prices, and the food index will rise by 1.6%.
However, these two factors are expected to be the main drivers of the 2.9% monthly increase in the CPI.
To read our blog on “Govt. decreased Rs. 2.04 on petrol and Rs. 6.47/liter on HSD,” click here.
