Petrol prices to remain unchanged for next seven days
Oil and Gas Regulatory Authority (OGRA) forwarded a summary to Ministry of Finance on 30, May 2018 to increase the prices of petroleum products up to PKR 12. The prices were expected to be revised by 1 June 2018; however, the then government has pushed the date of price hike seven days forward, which was 7 June 2018. According to the finance minister Miftah Ismail, as their government is ended on 31, May 2018, the new caretaker government will decide whether to increase the price or not.
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The recommended prices by OGRA are as follow:
- Petrol: PKR 8.37 per litre
- High-Speed Diesel: PKR 12.50 per litre
- Kerosene oil: PKR 8.23 per litre
- Light diesel: PKR 11.65 per litre
In a tweet which the finance minister Miftah Ismail wrote on Thursday 31 March 2018, he said:
“Since our government ends today, and new prices of petrol, diesel and kerosene oil go in effect from tomorrow, therefore, on Ministry of Finance’s recommendation the PM has decided to leave their prices unchanged till June 7, so that the upcoming government can decide the new price.”
It is imperative to mention here that the government has increased prices of petroleum products nine times during the last 12 months, on the contrary, decreased the prices only three times.
The current prices of petroleum products are as follow:
- Petrol– Rs 87.70 per litre
- High-speed Diesel– Rs 98.76 per litre
- Light-speed Diesel– Rs 68.85 per litre
- Kerosene– Rs 79.87 per litre
That’s it from our side, stay tuned for latest updates.