The government has decided to maintain the prices of petroleum products at the current level to offset expected increase in the prices for the month of November 2019, a press release issued by the Ministry of Finance said on Monday.
“The decision to retain the September prices of petroleum products for the upcoming month of October has been taken in view of the petroleum prices in the international market showing an increasing trend from mid-September 2019 and the expectation that the prices might remain on the higher side in the month of November 2019,” the statement read.
It is pertinent to mention that the Oil and Gas Regulatory Authority (OGRA) had proposed a cut in the prices of POL products by up to Rs3.23 under the monthly fuel price adjustment mechanism.
The authority had recommended that the prices of petrol may be reduced by Rs2.55 per litre and high-speed diesel (HSD) by Rs3.23 per litre. It had also recommended Rs2.55 per litre reduction in the price of light diesel oil (LDO).
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