ISLAMABAD: The government has decided to keep the prices of petroleum products unchanged for the next 15 days.
According to a notification issued by the Ministry of Finance, the price of petrol will remain fixed at Rs 253.17 per litre, while high-speed diesel will continue to be sold at Rs 257.08 per litre.
It is worth noting that on January 1, the government had reduced the price of petrol by Rs 10.28 per litre and high-speed diesel by Rs 8.57 per litre.
Fuel prices in Pakistan are determined by a combination of international and domestic factors.
The most significant factor is the global price of crude oil, as Pakistan relies heavily on imported oil to meet its energy needs.
Any fluctuation in international oil markets directly affects local fuel prices. Another key factor is the exchange rate of the Pakistani rupee against the US dollar.
When the rupee depreciates, the cost of importing oil rises, leading to higher fuel prices even if global rates remain stable.
Government policies also play an important role in shaping fuel prices. Taxes, petroleum levies, customs duties, and sales tax significantly influence the final retail price paid by consumers.
Additionally, decisions related to price adjustments, subsidies, and price freezes for political or economic reasons can impact fuel rates.
Refining costs, transportation expenses, and margins for oil marketing companies and dealers further add to the overall price.
Domestic demand, supply conditions, and regional geopolitical tensions that affect oil supply routes can also contribute to fluctuations in fuel prices across Pakistan.
