**Govt Announces Petroleum Prices for the Next Fortnight**
The government of Pakistan has announced that petroleum product prices will remain unchanged for the next two weeks. Prime Minister Shehbaz Sharif confirmed the decision, holding the current rates steady.
Petrol will remain at Rs255.63 per liter, while high-speed diesel will stay at Rs258.64 per liter. Kerosene oil also sees no change, maintaining its price of Rs168.12 per liter.
These price adjustments, or lack thereof in this case, are routine and typically reflect international market trends and domestic economic factors.
Instead of adjusting fuel prices, the government has opted to pass on the financial benefits of fluctuating oil prices to electricity consumers. Prime Minister Sharif promised a substantial relief package for power tariffs, anticipating a positive impact on inflation.
The decision comes amid a notable decrease in global oil prices. Factors contributing to this drop include OPEC’s plan to increase production starting in April, uncertainty surrounding U.S. tariffs, and a build-up in U.S. crude inventories.
In related news, the Petrol Dealers Association has called off a planned nationwide strike. The decision followed a meeting between association representatives and Petroleum Minister Musadik Malik. Discussions resulted in the strike being withdrawn, with the association confirming that there would be no alterations to the profit margins for petrol pump dealers. The Chairman of OGRA and officials from the Petroleum Division also participated in the negotiations.