ISLAMABAD: Prime Minister Shehbaz Sharif opted to maintain current petroleum product prices, effective March 16, 2025, despite projections indicating potential reductions of up to Rs14.16 per litre.
This decision overrides Oil Marketing Companies (OMCs)’ estimates, which suggested price decreases driven by lower international oil prices and premiums.
The prime minister intends to redirect the potential savings from reduced petrol prices towards a significant reduction in electricity tariffs for consumers.
The OMCs’ estimates projected the following price reductions per litre:
• Petrol: Rs 14.16 (resulting in a price drop from Rs 255.63 to Rs 241.47)
• High-Speed Diesel (HSD): Rs 8.70 (resulting in a price drop from Rs 258.64 to Rs 249.94)
• Kerosene Oil: Rs 10.33 (resulting in a price drop from Rs 168.12 to Rs 157.79)
• Light Diesel Oil (LDO): Rs 7.12 (resulting in a price drop from Rs 153.34 to Rs 146.22)
Previously, on February 28th, the government implemented smaller price adjustments, reducing petrol by Rs 0.50 per liter and HSD by Rs 5.31 per liter for the fortnight ending March 15th.
Copyright Business Recorder, 2025
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