In some respite for the inflation-burdened people of Pakistan, Finance Minister Ishaq Dar said on Saturday that the federal government woud maintain the prices of petroleum products for the next fortnight.

In a press conference, he added that international oil prices were on an uptrend. This resulted in the Oil and Gas Regulatory Authority (OGRA) seeking an increase in domestic rates of petroleum products. However, the government rejected the increase, he said.

The price of petrol will remain unchanged at Rs214.8 per litre while diesel will be sold at Rs227.80 per litre till mid-January 2023.

Kerosene oil will be sold at Rs171.83 per litre while light diesel oil will be sold at Rs169 per litre.

“Kerosene is used by low-income segment for heating needs,” Dar said.

Earlier, the market anticipated no change in the prices of petroleum products.

On December 15, Finance Minister Ishaq Dar announced that the price of petrol was being reduced by Rs10 and diesel was being brought down by Rs7.5 per litre, Aaj News reported. The reduction means the price of petrol is now Rs214.8 per litre, while that of diesel is Rs227.80 per litre with effect from December 16.

“The prime minister wants that we should pass maximum relief to the public and we have been implementing that since October 30,” he said in a televised address.

“According to our calculations, petrol prices — that are Rs224.80 — will be reduced by Rs10 to Rs214.8 after midnight. High-speed diesel will be decreased by Rs7.5 to Rs227.80,” the finance minister said.

Dar said that kerosene oil will now cost Rs171.83 after a decrease of Rs10 and the price of light diesel oil will be reduced by Rs10 to Rs169 per litre as well.