As Promised, Govt Keeps Petrol Prices Unchanged
Earlier this month, PM Imran Khan reduced the petrol prices by Rs. 10 and also made a commitment not to hike the prices until the next budget. And, as promised, the government has kept the petroleum prices unchanged for the rest of the month.
Current Petrol Prices
The current petrol price is at Rs. 149.86 per litre.
The current high-speed diesel price is Rs.144.15 per litre.
The current price of kerosene oil is Rs. 125.56 per litre.
The current price of light diesel oil is Rs. 118.31 per litre.
The prices will remain in effect till the 31st of March.
“Actual” Petrol Price via Shaukat Tarin
Last week, our Federal Finance Minister Shaukat Tarin brought new information to the public’s notice. While addressing a seminar on the Revival of Pakistan Economy and Outlook in 2022, Tarin said that the government is paying Rs. 104 billion per month to keep the petrol prices at Rs. 150 per litre. At the current international rates, the actual domestic petrol price is Rs. 240 per litre.
We don’t know how much of that is true and if the government is paying hundreds of billions from the exchequer to keep the petrol prices as low as Rs. 150. What we do know is that the super-cycle of inflation is crushing the public. Although petrol prices did not increase this time, the rates are still weighing the citizens down.
International Oil Prices
The war between Russia and Ukraine took international oil prices over $100 a barrel. As of now, crude oil is at $96 per barrel. The situation is still uncertain, but under $100 rate is good news for the international auto industry. Let’s see if that changes anything in our petroleum price chart.
What do you think about the government’s decision to keep the petrol prices unchanged? Share your views in the comments.