No change in petrol prices

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On Wednesday, the government has decided to maintain the prices of petroleum products for the next 15 days by increasing tax rates both petroleum levy and general sales tax.

According to a statement issued by the Finance Division, the prices of petroleum products will remain unchanged with immediate effect from 1 December onwards.

The current price of petrol stands at Rs. 145.82 per liter, whereas the per-liter prices of diesel, kerosene oil, and light diesel are Rs. 142.62, Rs. 116.53, and Rs. 114.07, respectively.

The decision comes amid speculation that the government may revise petroleum prices for the next 15 days owing to uncertainty in global oil prices. However, prior to the Finance Division’s announcement of today, the Oil and Gas Regulatory Authority said last week that there would be no change in prices of petroleum products on December 1, 2021.

While today’s announcement comes as a relief for many, it should be noted that global oil prices increased on Monday on speculation that the Organization of Petroleum Exporting Countries (OPEC) may suspend production in response to the spread of Omicron.

 

DailyTimes, 01 Dec, 2021
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