ISLAMABAD: After the general elections in the country, the formation of the federal government is complete. People have expectations from the Shahbaz Sharif government that it will give relief to the people as soon as it comes.
On March 15, the Ministry of Finance has decided to change the prices of petroleum products. Considering the price of crude oil in the global market and the value of the dollar, it seems that the prices of petroleum products cannot be increased or decreased. However, The government may give relief to the people by reducing the prices of petroleum products.
Stability in Petroleum Prices Expected:
In the past year, there has been a significant increase or decrease in the prices of petroleum products every month. However, since the beginning of this year, the prices of petroleum products have not seen much fluctuation.
It is expected that petrol prices will be maintained even from March 16. However, the final decision in this regard will be taken by the Ministry of Finance on March 15 in the light of OGRA’s summary.
Analysis of Dollar Depreciation and Crude Oil Prices
The last time the government increased the price of petrol by 4 rupees 13 paise on February 29, the inter-bank dollar price was 279 rupees, which is still 279 rupees. Similarly, the price of crude oil was $81 a barrel, which remains unchanged at $81.
At the end of last year, the price of Brent crude oil fell to $73 per barrel due to a significant decrease in crude oil prices in the world market. Earlier in October, the price of crude oil reached $94 per barrel. The price of crude oil has been stable for the past month, and currently, the price of crude oil is $81 per barrel.
Petrol, Diesel Price in Pakistan Today:
| Petroleum products | Price |
| Petrol | Rs 279.75 |
| High Speed Diesel (HSD) | Rs 287.33 |
Analysts Predict Stability in Petroleum Prices:
Analysts suggest that the prices of petroleum products are unlikely to change. The price of the dollar in Pakistan has been stable at 279 rupees for the last month. In view of the stability of the price of crude oil and the dollar in the global market, analysts also say that the prices of petroleum products will not change.
However, the final decision on the prices will be taken by the Ministry of Finance in the light of the Ogra summary on the night of March 15.
At the end of February, the prices of petroleum products were increased by 4 rupees 13 paise due to a slight increase in crude oil prices in the global market.
On January 31, the price of petrol was increased by Rs 13.55 paisa due to the increase in the price of British Brent crude oil. Earlier, the government had cut the price of petrol by Rs 8 per liter on January 15, trying to meet public expectations.
(Islamabad51_Newsdesk)
