Pakistan Keeps Petrol, HSD Prices Stable, hikes RLNG Rate

The Government of Pakistan has announced that the prices of petrol and high-speed diesel will remain unchanged for the next fortnight, providing relief to consumers who were anticipating a possible increase of up to 6 rupees per liter. The price of petrol will continue to be 248.38 rupees per liter, and the price of high-speed diesel will remain at 255.14 rupees per liter, effective from November 16, 2024.

The decision to keep petrol and high-speed diesel prices unchanged comes after a review of the international market, where oil prices have seen fluctuations recently. The price of petrol was reduced by 1.35 rupees per liter in the previous review, and high-speed diesel prices were increased by 3.85 rupees per liter. The move to maintain current prices will provide some relief to consumers, who were bracing for a possible increase that could have strained household budgets.

However, it's worth noting that the RLNG (Re-gasified Liquefied Natural Gas) rate has been increased by up to 2.7 percent for November. The Oil and Gas Regulatory Authority (Ogra) has determined the consumer prices of petroleum products based on price fluctuations in the international market over the last two weeks.

The significant tax burden imposed on both petrol and high-speed diesel remains a pressing issue for the general public. The government is charging around 76 rupees per liter tax on both products, with an additional GST and PDL (Prime Minister's Development Loan) of around 60 rupees per liter. These tax impositions have a substantial impact on the general public, who are struggling with the rising cost of living.

The decision to keep petrol and high-speed diesel prices unchanged has been met with a mix of relief and skepticism. While it provides some respite to consumers, the ongoing tax burden and the increase in RLNG rate raise questions about the long-term implications for the economy and household budgets. As the government continues to navigate the complex web of energy pricing and taxation, the public awaits further announcements with bated breath.