Critics Point to Unsurpassed Global Oil Price Relief, But Petrol Remains Unaltered, Diesel and Kerosene Prices Drop

For the next 15 days, beginning on May 16, the government has lowered the price of high and light speed diesel by Rs 2 and Rs 4.68 per liter, respectively. Light-speed diesel will now cost Rs 150.65 per liter, while high-speed diesel would now cost Rs 254.64. Kerosene’s price has also been lowered by Rs 5.45, making it now at Rs 164.65 per liter. Petrol will continue to cost Rs 252.62 a liter. For the third time in the past two months, the Pakistani government has failed to pass on the gains to consumers, despite the drop in global oil prices, according to observers.

According to reports, the oil industry’s loss of Rs 34 billion during the previous fiscal year is the cause of this. The biggest sources of government revenue are gasoline and high-speed diesel, which are now priced at Rs 96 a liter. Most tiny cars, rickshaws, two-wheelers, and cargo vehicles run on gasoline. People with middle-class and lower-class incomes will continue to be impacted if its price stays the same. Diesel at high speed Transporting heavy objects Due to its use in tractors, threshers, trucks, buses, railroads, and other machinery, the cost of food and vegetables rises.

Only 10,000 tons of kerosene are consumed in the nation each month, compared to 7 to 8 lakh tons of gasoline and diesel. In order to alleviate the difficulties faced by those with lower incomes, the government ought to distribute the benefits of the global decline in energy prices to the general public during this concerning time of inflation. The reduction of the electricity rate from 78 paise to 2 rupees 25 paise per unit is great news in this regard. The disadvantaged groups will gain from this.