ISLAMABAD: The ministry of finance, the other day announced to keep the prices of petroleum products unchanged for the month of August. The decision was taken in light of special circumstances arising due to the absence of a prime minister and the cabinet.
The secretaries of petroleum, finance and law and justice on Monday spent more than12 hours in consultations regarding whether to implement recommendations of the Oil and Gas Regulatory Authority(Ogra) issued last week or not.
“No change in petroleum products prices till a decision by the competent authority,” said a spokesman for the finance ministry, adding that considering special circumstances, the prices would be maintained at the existing level till a decision by the competent authority is reached.
Ogra had recommended a reduction of Rs5.07 per litre in the price of high-speed diesel (HSD) and Rs3.67 in petrol effective from August 1 to pass on the benefit of lower international prices to consumers. It had recommended an increase of Rs13 and Rs10 per litre in the prices of kerosene and light diesel oil (LDO), respectively.
Petrol prices have been maintained at Rs71.30 per litre, diesel at Rs79.90 per litre, kerosene at Rs44 per litre and LDO at Rs44 per litre.
