The government has decided to absorb the upcoming Rs. 49 per litre increase in fuel prices for another week. This step is taken to protect consumers from the impact of the ongoing Gulf conflict.
Officials said the government will compensate oil marketing companies through price differential claims. These payments will cover the gap between international crude rates and domestic retail prices. The payments will then be passed on to fuel station owners.
Dubai crude has recently surged to $166.6 per barrel. Diesel prices have risen to $218.79 per barrel, while petrol now costs $145.87 per barrel. These rising international prices have put pressure on local fuel rates.
In last week’s fuel price review, the government raised the prices of kerosene oil and light diesel oil (LDO). Petrol and high-speed diesel rates were left unchanged. The petroleum levy remains at Rs. 105.37 per litre for petrol and Rs. 55.24 per litre for diesel.
To further ease the burden on consumers, the government approved a subsidy of Rs. 23 billion for the period of March 14 to March 20. This subsidy is aimed at keeping fuel prices stable despite global crude price increases.
The temporary relief ensures that consumers face minimal impact on their daily expenses. Meanwhile, the government continues to closely monitor developments in the Gulf region. Officials say future fuel prices will depend on international market trends and the progress of the ongoing conflict.
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This measure highlights the government’s commitment to protecting consumers from sudden price shocks while maintaining the stability of domestic fuel markets.
