ISLAMABAD: The Oil and Gas Regulatory Authority on Sunday moved a price-revision summary of the petroleum products to the quarters concerned for the next fortnight starting from June 1.
As per the summary, the authority has recommended an increase of Rs 4.30 in per liter price of High Speed Diesel, a slight upward adjustment in the rate of petrol (Motor Spirit) and Kerosene Oil, and to maintain the Light Diesel Oil at the previous rate [unchanged], official sources privy to petroleum sector developments told APP.
They said the Ministry of Finance would formally announce the new prices of petroleum products on Monday after final approval from the Prime Minister.
On May 15, the government had decided to keep the prices of petroleum products unchanged for the remaining month of May.
“The petroleum products price will remain the same till May 31,” the State Minister for Information and Broadcasting Farrukh Habib had said, adding Prime Minister Imran Khan had decided not to burden the people despite increasing rates in the international market.
The minister had claimed the national exchequer would suffer a loss of Rs2.77 billion if the rates of petroleum products are not increased.
“The government has not only adjusted petroleum levy but also reduced the sales tax on light diesel and kerosene oil.”
