Petrol prices to remain unchanged for next fortnight

The Oil and Gas Regulatory Authority (Ogra) on Friday night notified that the prices of petroleum products will remain unchanged for the next fortnight.

Earlier this week, the prices of major petroleum products — petrol and high-speed diesel (HSD) — were estimated to go up by about Rs4-5 per litre for a fortnight owing to higher international prices and import premium on petrol.

Informed sources said the average prices of petrol and HSD increased in the international market by about $1.7 and $4.4 per barrel, respectively, in the last fortnight.

The import premium on petrol was up to almost $1 per barrel. Depending on final exchange rate calculation and existing tax rates, the prices of petrol and HSD are projected to increase by up to Rs4 and Rs5 per litre, respectively.

According to a finance division notification seen by Dawn.com, Ogra decided that the prices will remain unchanged “based on the price trends in the international market during the last two weeks”.

The notification states that the price of High-Speed Diesel (HSD) will remain at Rs255.14 per litre, while the price of petrol (MS) will stay at Rs248.38 per litre. These prices will stay the same for the next 14 days.