Government keeps prices of PoL products unchanged

ISLAMABAD: The government has decided to maintain the prices of petroleum products at the existing level during August 2018.

Despite the price increase recommended by Oil and Gas Regulatory Authority (Ogra), the government has decided to keep the rates of petroleum products unchanged. Tax/duty adjustments have been made accordingly. The decision has been taken to provide the maximum relief to the common man.

Ogra had recommended an increase in price of high speed diesel by Rs2 per litre, petrol Rs2.50 per litre, kerosene Rs5 per litre and light diesel oil by Rs6 per litre for August. However, the caretaker government did not pass on the impact to the consumers.

Earlier, the caretaker government on July 1 hiked the price of petrol by Rs7.54 to Rs99.50 per litre, diesel by Rs14 to Rs119.3 per litre and kerosene by Rs3.36 to Rs87.7 per litre. It also raised rates of other petroleum products. However, a week later, the prices were brought down after the Supreme Court took notice of heavy taxes on the sale of petroleum products.

On July 7, the federal government reduced prices of petroleum products by up to Rs6.37 per litre in order to provide relief to the general public.