The federal government is likely to keep petroleum prices unchanged during the holy month of Ramadan.
The exchange rate has continued to gradually improve despite the hostile business environment while the international oil prices have largely remained in a narrow band as well. There is a big chance that fuel prices would be retained.
Top oil benchmark Brent crude has remained steady at around $81 per barrel so far this month, while weekly inflation nears 34 percent.
While no change is a possibility, a small increase cannot be ruled out entirely. Motor Spirit (MS) petrol may see an increase of up to Rs. 1.07 per litre to Rs. 280.8 due to a higher premium of $12.1 per barrel compared to the previous fortnight.
Conversely, High-Speed Diesel (HSD) may drop to Rs. 286.5 per litre, a small drop compared to the previous fortnight. The premium on HSD is unchanged compared to February 29.
Kerosene oil may drop to Rs. 189.07 per liter, and Light Diesel oil to Rs. 168.71 per liter.
It is pertinent to mention here that at the last fortnightly review of petroleum prices on February 29, the price of petrol was increased by Rs. 4.13 per liter while the price of high-speed diesel was kept unchanged at Rs. 287.3.
