Petroleum prices will remain unchanged in August

in Business

Islamabad: The Ministry of Finance declared later on Monday that prices of petroleum products will remain unchanged for the coming month of August.

A spokesperson for the Finance department told in a statement that given the special conditions, prices of petroleum products will be the same until the Competent authority has made its decision.

The Oil and Gas Regulatory Authority (Ogra) had suggested the government last week to decrease the prices of petrol and High-Speed Diesel (HSD) by Rs3.67 and Rs5.07 per liter, respectively, for August.

Ogra had also suggested raising prices of kerosene by Rs13 per liter and Light Diesel Oil (LDO) by Rs10.01 per liter.

However, following Nawaz Sharif’s disqualification by the Supreme Court, the Ministry of Finance was left without any competent authority and could not give a relief to the consumers through price reductions.

Petrol prices have remained at Rs71.30 per liter, diesel at Rs79.90 per liter, kerosene at Rs44 per liter and LDO at Rs44 per liter.

Earlier today, Pakistan Tehreek-e-Insaf leader Asad Umar complained against the failure of the authorities to pass on relief to the consumers as per Ogra’s recommendations.

He, therefore, requested President Mamnoon Hussain to take notice of the matter.

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