Petrol and Diesel Prices Unchanged for Next Two Weeks

Jawad

15 Nov 2024

201

Petrol and Diesel Prices Unchanged for Next Two Weeks

The federal government has decided to keep the Petrol and Diesel Prices unchanged for the next fortnight, effective from November 16, 2024. This decision comes as a relief to consumers who were expecting a potential price hike.

No Price Increase Despite IMF Pressure

There had been reports suggesting that the government might raise fuel prices to meet the International Monetary Fund’s (IMF) demands. Proposed measures included imposing an 18% General Sales Tax (GST) on petroleum products and increasing the Petroleum Development Levy (PDL). However, the government has decided to maintain the current prices of Petrol and Diesel instead.

Decision to Ease Inflation Concerns

By retaining fuel prices unchanged, the government aims to avoid further inflationary pressures that could negatively impact consumers, especially those who depend on fuel for transportation and essential services.

Monitoring Global Oil Market

While domestic Petrol and Diesel Prices remain stable, global oil prices continue to fluctuate. Any significant changes in international oil markets could affect future price adjustments. The government will monitor the situation closely to ensure fuel prices remain stable.

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