Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced that prices of petroleum products, including petrol and high-speed diesel (HSD), will remain unchanged for the next two weeks.
Earlier this week, it was estimated that prices of these major petroleum products may rise by Rs 4-5 per liter due to rising global oil prices and increase in petrol import premiums. Sources revealed that the average global prices of gasoline and HSD rose by about $1.7 and $4.4 per barrel, respectively, during the past two weeks. In addition, the gasoline import premium rose to nearly $1 per barrel.
Despite these increases, the Ugra notice, issued late Friday night, said prices would remain steady “based on price trends in the global market over the past two weeks.”
As a result, the price of high-speed diesel (HSD) will remain at Rs 255.14 per litre, and the price of petrol (MS) will remain at Rs 248.38 per liter for the next 14 days.
This decision comes amid rising global oil prices but reflects Ugra’s decision to keep domestic fuel costs stable for the time being.