ISLAMABAD: The federal government has opted to keep petrol and high-speed diesel (HSD) prices unchanged for the upcoming fortnight starting January 16, 2026. This decision defies industry expectations, as oil marketing companies had previously projected a price cut upto Rs 4.59 per litre. The Petroleum Division announced on Thursday that fuel prices will remain steady for the second half of January 2026. Petrol continues to be priced at Rs 253.17 per litre, while high-speed diesel (HSD) remains at Rs 257.08 per litre. The government is currently considering a proposed additional petroleum levy of Rs 5 per litre on petrol and HSD. This is part of a plan to help pay off the gas sector’s circular debt, which is estimated at Rs 1.7 trillion. The estimate of oil companies was based at current petroleum levy and CSL on petroleum products. In previous fortnight, government charged Rs 82.12 per litre (PL+CSL) on petrol and Rs 77.91 per litre on HSD. Oil and Gas Regulatory Authority (Ogra) and relevant ministries worked out their recommendations on January 15 to Petroleum Division which announced on the same day final prices of petroleum products keeping in view the current fiscal year’s budgeted target of PL and CSL. Copyright Business Recorder, 2026