Govt to retain prices of petroleum products: Ishaq Dar

• Govt has decided to retain prices of petroleum products
• Finance Minister Ishaq Dar made the announcement
• Prices will remain unchanged till Jan 15

ISLAMABAD: The government has decided to maintain the existing prices of petroleum products for the next fortnight starting January 1, 2023.

This was stated by Finance Minister Ishaq Dar in a video statement. He announced that the price of petrol and diesel will remain unchanged heading into the new year.  He said the price of kerosene oil and light-crude diesel will also remain the same.

The finance minister said the Oil and Gas Regulatory Authority (Ogra) recommended a slight increase in prices for kerosene and light diesel oil after a rise in the tarrif of petroleum products in the international market.

However, he said it was decided to retain the prices to provide relief to the poorest segments of society. He added that decision was taken after considering the cold weather and the poorest people use light diesel oil for tubewells while kerosene is also used by people earning the lowest incomes.

He added that there will be no increase in the price of petroleum products. He said it decided that the government will absorb the levy and reduce the collected amount to maintain prices/

In a tweet after the announcement, Ishaq Dar said the government has decided to keep the existing prices of petroleum products unchanged with effect from 1st to 15th January 2023 to “provide relief to the common man, despite increase in the prices of these products in the international markets.”

On Dec 15, the government had reduced price of petrol by Rs10 and diesel by Rs7.5 per litre. The price of kerosene oil was slashed by Rs10 on Nov 30 while the price of light diesel oil was reduced by Rs7.5 per litre.

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